JPMorgan Will Try to Do Better Next Time


JPMorgan beat analysts’ estimates this quarter by increasing income in most every line of business and declaring a profit of $4.8 billion. However, someone is still not happy: “Chief Executive Jamie Dimon poured his trademark cold water over any enthusiasm about the recovery in credit. In a press release, he said losses from bad consumer loans ‘remain at extremely high levels and therefore returns in our consumer-lending businesses are still unacceptable. As a result, these businesses did not meet expectations nor generate satisfactory returns on capital for our shareholders.’” [DowJones via WSJ]