May
15
A Favored Firm, from Laurel Kenner
May 15, 2012 |
Despite the TV poli-drama, a $2 billion loss carries absolutely no significance to JPM Chase given the size of its asset base. It could be looked at as a rounding error.
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$2.3 trillion of assets seem to be depending on these “insignificant” amounts just to stay in the black. (Assuming they make over $20 billion trading and net income for the common is under.) They’ll make it back in 20 trading days if still averaging $100 million/day.
J.P. Morgan?
What a dope I am… I didn’t know or remember it was JP Morgan Chase. I have two Chase credit cards so to some extent JP Morgan is my bank. But I didn’t know I was doing business with the same firm.