Actual headline: JP Morgan: It Could’ve Been Worse “JPMorgan’s Jamie Dimon seemed relieved, but issued a cautious outlook for the year. ‘Our lower quarterly results were affected by the investment bank’s markdowns in subprime-related positions and weaker trading. In addition, our consumer home equity and subprime loan portfolios performed worse than we expected,’ he said. ‘If the economy weakens substantially from here-for which, as a company, we need to be prepared-it will negatively affect business volumes and drive credit costs higher.’” [Forbes]
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Igor: It could be worse. It could be raining.
[rain begins to fall]
For those who missed the reference.
I was going to ask why the YF picture, but now I get it.
I feel like an idiot, but can you explain it to me?
Jamie Dimon is a pathetic CEO. Maybe time for more cost-cutting leading to nothing?
In Young Frankenstein, Dr. F and Igor are shoulder deep in a grave, digging up the body to be used as the monster.
Dr. F: What a filthy job!
Igor: Could be worse.
Dr. F: How?
Igor: Could be raining!
[thunder. rain begins to fall. Dr. F gives Igor an irritated look.]
As sad as it is.. it could have been worse.
@superborty:
Did you even RTA? JPM made 3 billion in the 4th quarter and 15 B for the year. You’re entitled to your opinion, but the notion that Dimon’s efforts have led to nothing is just foolish.