http://www.bloomberg.com/news/2014-04-11/jpmorgan-profit-falls-19-on-trading-mortgage-declines.html
JPMorgan Chase & Co, the largest bank in the US, experienced a 19% drop in fixed income trading and mortgages during their first quarter of 2014. Net income dropped from 6.53 billion to 5.27 billion. Net income from consumer and commuting banking declined by 25%. Also revenue was 10% less than the previous year. They faced loses in almost every department. As profit decreases, the interest rate rises. In result, JPMorgan has seen a decrease in investment. As one of their top executives, Blythe Masters, leaves the company, it will be interesting to see if their numbers will improve in the next quarter.
So why keep increasing taxes, cutting spending and continue to support this "world class bank" and it's mega millionaire staff....again??
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