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(The New York Times)   JP Morgan posts first quarterly loss in 8 years after a 9.2 billion litigation charge. It's only a loss of 380 million but, you know, keep fighting the good fight   (dealbook.nytimes.com) divider line 12
    More: Scary, JPMorgan Chase & Co., loan origination, legal costs, Washington Mutual, head counts, trading loss, Bear Stearns, Jamie Dimon  
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715 clicks; posted to Business » on 11 Oct 2013 at 11:22 AM (41 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



12 Comments   (+0 »)
   
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2013-10-11 10:45:06 AM
worlds-tiniest-violin.jpg
 
2013-10-11 11:31:38 AM
More is coming, bunches of lawsuits are still waiting to rain down.
 
2013-10-11 11:39:03 AM
i.i.cbsi.com

Not enough. Not nearly enough.

If you really want the rich to listen to you, you don't occupy Wall Street. You occupy Park Avenue. And play 10,000 Maniacs "Candy Everybody Wants" 24 hours a day.
 
2013-10-11 11:56:11 AM
funnycatwallpapers.com
 
2013-10-11 01:17:50 PM
Gosh, I'm sure that operating at a loss is going to have absolutely no affect on their bonuses.  They will probably have to get another 0% loan from the government to pay the billions to their poor executives.
 
2013-10-11 02:02:11 PM
Are they in jail yet?  No?

Then not good enough.
 
2013-10-11 05:18:10 PM
I worked at Chase for 12 years until I was laid off in 2010. I still talk to my old boss. In January 2012, Chase announced record profits. In February 2012 Chase announced (to its employees) that because "Europe was soft," raises would be held to 2% for employees making less than $100,000, and folks making more than $100k would get no raise and no bonus.

Fastforward one year, and Chase announces another year of record profits. And employees are once again held to 2% raises (but hey, at least the $100k+ crowd got 2% this year).
 
2013-10-11 05:27:02 PM

Mike Chewbacca: I worked at Chase for 12 years until I was laid off in 2010. I still talk to my old boss. In January 2012, Chase announced record profits. In February 2012 Chase announced (to its employees) that because "Europe was soft," raises would be held to 2% for employees making less than $100,000, and folks making more than $100k would get no raise and no bonus.

Fastforward one year, and Chase announces another year of record profits. And employees are once again held to 2% raises (but hey, at least the $100k+ crowd got 2% this year).


and layoffs affecting nearly 20,000 people in the US

more bloodletting is on the way in the treasury services and commercial banking divisions.
 
2013-10-11 08:49:57 PM
Yeah, I'm reading this and thinking "guess anybody who isn't a VP or greater is not getting a bonus this year".
 
2013-10-11 09:49:01 PM
Eat the rich.
 
2013-10-12 05:07:03 AM
They haven't actually lost any cases.

This is just the money they've spent FIGHTING the lawsuits. Jeez, at what point do you think "just bite the bullet and settle." This is seriously a pride thing, isn't it?
 
2013-10-12 01:20:49 PM

Ishkur: This is just the money they've spent FIGHTING the lawsuits. Jeez, at what point do you think "just bite the bullet and settle." This is seriously a pride thing, isn't it?


Pride? Maybe.

Judicial precedent? More likely.
 
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