JPMorgan Reports $3.6 Billion Profit For Third Quarter (BW)
Sayeth Jamie Dimon: “”Our net income of $3.6 billion in the quarter reflected the strong earnings power of the company, with broad-based growth across the Investment Bank, Asset Management, Commercial Banking and Retail Banking. However, credit costs remain high and are expected to stay elevated for the foreseeable future in the Consumer Lending and Card Services loan portfolios. Accordingly, we have added $2.0 billion to our consumer credit reserves, bringing the firmwide total to $31.5 billion, or 5.3%1 of total loans. Tier 1 Common Capital, another key element of our fortress balance sheet, was also strengthened through capital generation during the quarter, to $101 billion, or 8.2%.”
Wall Street On Track To Award Record Pay (WSJ)
An estimated $143,400 on average, up almost $2,000 from 2007 levels.
BofA Emails Show Pique at U.S. Over Dividends (WSJ)
Some emails show that apparently a few people at BofA weren’t happy with the government’s request to “screw shareholders.”
Who Wants A RBS Branch? (FT)
The bank has 300 or so to give away.
Blackstone See “More Than Green Shoots” Of Recovery (Reuters)
“We can certainly do transactions in the $3-$4 billion range at this stage in the cycle,” Stephen Schwarzman said yesterday. “And with low leverage involved, deals of that size can use in excess of $1 billion equity.”
Geithner Aides Reaped Millions Working for Banks, Hedge Funds (Bloomberg)
Gene Sperling got $887,727 from Goldman Sachs and $158,000 for speeches mostly to financial companies (including Allen Stanford’s firm) last year; Lee Sachs, reported more than $3 million in salary and partnership income from Mariner Investment Group.
Kitchen worker among AIG staff who received ‘retention bonuses’ (FT)
$7,700 in cash. And Ken Feinberg wants it back.
Posted by guest , Oct 14, 2009 7:30AM
I always win fuckers.
-JD
Posted by guest , Oct 14, 2009 7:40AM
working under geithner is the new killing it.
Posted by guest , Oct 14, 2009 7:43AM
no ubs story today so I guess I'll have to go with: RBS sucks.
Posted by DJ LIBOR , Oct 14, 2009 8:15AM
Halloween Costume:
A) Crack Spread (credit someone who mentioned it yesterday)
or
B) Naked Shorter (credit Naked_Short)
???
Posted by Chris Theoharis , Oct 14, 2009 8:17AM
Hey :) !
Posted by guest , Oct 14, 2009 8:45AM
suck on my prestige.
-jd
Posted by guest , Oct 14, 2009 8:46AM
@4 Treasury STRIPper (Geithner mask sold separately)
Posted by guest , Oct 14, 2009 8:46AM
i'm expecting similar results.
-pandit
Posted by guest , Oct 14, 2009 8:56AM
All is well with the world again.
Posted by guest , Oct 14, 2009 8:58AM
This mornings comments are exceptionally weak. Please step up your collective game.
Posted by guest , Oct 14, 2009 8:59AM
@10 okay you start.
Posted by guest , Oct 14, 2009 9:00AM
@10 Fuck you Joe-Boo.
-Not 1-9
Posted by guest , Oct 14, 2009 9:13AM
@9
Until you realize how many jobs will not be returning to Wall Street, and how much political pressure there will be for heavy taxation of those wondrous paychecks.
Posted by guest , Oct 14, 2009 9:16AM
I love this part re: Timmay's posse:
"“These people are incredibly smart, they’re incredibly talented and they bring knowledge,” said Bill Brown, a visiting professor at Duke University School of Law and former managing director at Morgan Stanley. “The risk is they will further exacerbate the problem of our regulators identifying with Wall Street.”"
so having unfettered access to the bank vault makes you incredibly smart? the real way to show they are so incredibly smart and not reliant on inside information, is to cut all ties with their conflicts of interest.
Posted by guest , Oct 14, 2009 9:19AM
greenmail. what's the economic benefit of being energy efficient then....
http://www.nytimes.com/2009/10/14/business/energy-environment/14oil.html?_r=1&ref=business
"Saudis Seek Payments for Any Drop in Oil Revenues"
Posted by guest , Oct 14, 2009 9:21AM
@14-- so based on Bill Brown's view, that should make Charlie Rangel incredibly smart and talented.