JPMorgan Reports Fourth Quarter Net Income Of $3.3 Billion (JPM)
Jamie Dimon: “We are gratified that we generated earnings of $3.3 billion for the fourth quarter and nearly $12 billion for the year. Though these results showed improvement, we acknowledge that they fell short of both an adequate return on capital and the firm’s earnings potential. We benefited from the diversity of our leading franchises, as demonstrated by the continued earnings strength of our Investment Bank, Commercial Banking, Asset Management and Retail Banking franchises. We are proud that, throughout these tumultuous times, we never stopped investing in the fundamental growth drivers of our consumer businesses.”
US Banks Set For Record Pay (WSJ)
An analysis by The Wall Street Journal shows that executives, traders, investment bankers, money managers and others at 38 top financial companies can expect to earn nearly 18% more than they did in 2008–and slightly more than in the record year of 2007.
Citigroup’s ’09 Bonuses Said to be Similar to ’08 Levels (Reuters)
Individual cash payouts may be capped at $60,000.
UBS, Credit Suisse Saw Outflows From Italian Amnesty (Bloomberg)
That can’t feel good: “UBS AG, Credit Suisse Group AG and Julius Baer Group, Switzerland’s biggest wealth managers, may have lost as much as 18 billion Swiss francs ($17.6 billion) in assets through an Italian tax amnesty, Morgan Stanley estimates.”
Did Tudor’s Tensor really tank? (CTNews)
According to investors, Tensor now has $1.1 billion after ending last year with about $870 million.
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
There's that awful sucking sound again.
capped at 60k? do citi employees even make that much?
man, how the hell is JPM going to handle this 15bps charge on uncovered assets when they only make $12 billion in a year that their CEO says is short of adequate.
JPM is screwed……
Time for some Dr Fellacio #16.
That's not my Dad, he's just our Morgan Stanley guy.
I dont want to sound like a queer or nothin' but JD looks really kick ass in that picture.
When you spend your record bonuses, remember to look for the union label!
@8/pfluger
Either look for the label or the shoddy, half assed craftsmanship and attention to detail.
Why are GM, FNM, FRE etc. all getting a free pass on the TARP tax even when they will end up representing the actual losses for the program? Last I checked the taxpayer is making money on the TARP paybacks – so why tax the recipients?
The reason: they do not have the money – you can only tax those that can actually pay it. These companies are the ones who will represent the true losses in the end. Typical ploy is to deflect the blame away from the govt. and their economic distortions and lack of regulation, which got us into this mess.
GM – union's back covered by Dems
FNM & FRE – their failure is due to the socialist agenda
AIG – lack of regulation
The result: reward failure, punish suuccess. Obama will ruin this country soon enough with his Chicago inspired political/social/economic agenda.
Be very scared America…..
The unions are "the only thing that keeps the barbarians at the gate."
Joey Biden
How soon until America wakes up and realizes that Wall Street bonuses, which are earned, do not trickle down to main street.
Who will employ workers at the pizzeria, deli, dry cleaner, plumbing supply, Home Depot, barber, tailor, auto dealership, contractors, landscapers, etc. If you make less, you spend less, and guess what – you also pay less in taxes.
So whoever Obama trying to punish is not Joe banker, but Joe the worker…
#6, um, you are aware that JPM is not Morgan Stanley, aren't you?
Is there a union local for hookers and coke dealers?
-guest
When you point one finger, you've got three fingers pointing right back at you. Just sayin'.
And a thumb, too. Which could be pointing straight up if you're making like a pretend gun sign. At least most people have thumbs. Just sayin'.
@12
Huh?
also, so we can expect to make 18% more this year than last? Uh, challenge?
Anal_yst, you are a disgrace to everyone in Montenegro.
@7 = homophobe. examine your motives
@double poster 3/4, some quick BOTE math, JPM has a market cap of ~$172 B, so $12 B a year would be a pretty shitty ROE (7%) for a bank. Go back to slate.com
@19 Whoa, Whoa, Whoa what is ROE? is that the stuff you get on a sushi roll?
-Pop U Lust
Anytown, USA
@19,
Please stand in the line with the rest of the financially illiterate awaiting training.
Once you have completed training you will be allowed to return to browsing DB but during a probationary period you will not be allowed to post.
Thank you,
@7, that, my friend, is a pretty obscure reference. Well done, Choda Boy
@22 Way underrated flick in IMHO.
Lights are on. It's stable, Captain, Woohoo! Let's see some fuckin' action!
The Secretary of the Treasury looks so regal in that pic
@21, Like I said: it's BOTE, son. I got shit to do today.
-19, guy who's been coming here since "VolisKing" was a prominent commenter, has both CFA and MBA
@19 & @25,
Understood.
It wasn't the the 7% figure but rather the reference to market cap that illicited the snide comment.
I hadn't paid much attention, domestic financials aren't my focus, but it's not surprising that it trades at ~1.1x BV.
@24 I see what you did there.
@25, but can you drive stick?
3 & 4 = Union worker driving a Cadillac
What would you pay for JD to do slapchop (with a free graty): "You're gonna love my _ _ _ s"!
my girlfriend saw a picture of JD today. she inconsiderately says that he is now 'officially the sexiest guy she has ever seen'. JD, if you are reading this, I want you to know this : STAY AWAY.
$19.95?
@31 If you love someone, set them free.
33,
Well, I love myself so I'm getting rid of me.
-David Carradine
29 = an "at will" investment banker driving a leased Range Rover (or more likely aspiring to)
@26, yeah, I thought it was trading pretty close to book, so I just used MC. "Good enough for government work" as my old boss used to say.
But here's the big confession: I went to Yahoo! Finance to grab that MC.
@28, I scale walls and am an outlaw in Peru
@35 – actually i own my company, detest wall street but also realize that BHO is flushing this once great country down the unions toilet – i liked the "at will" bit – must be tough billing by the hour?
@35, I-bankers don't drive themselves
@37 do you own your company or does your bank?
37 = owner of a temp staffing agency serving I-banks that has been struggling to make payroll for the past 18 months. Still aspires to drive a Range Rover like his I-Banking heroes (or as 29 points, his heroes' wives). Also, still an "at will" employee working for the bank, but with personal guarantees.
@40 the focus should be BHO ruining this country – why worry about me? open your eyes to the damage being done by this administration – and yes – i'm hiring
@15:
Bullshit, pal. You got a dead fish comin't to ya Fed Ex.
- Rahmbo
@10. I have to ask, is it true Ann Coulter has a penis?
man, how the hell is JPM going to handle this 15bps charge on uncovered assets when they only make $12 billion in a year that their CEO says is short of adequate.
JPM is screwed……
Wow, Bess – That is some top-shelf JD you served up today. Very, very appreciated–even more so after that LB photomess of yesterday. Thanks and keep it coming.
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