JP Morgan posts decent profits
The quarter four of 2009 has ended on a good note for the US banking major, JP Morgan chase. The banking system has been able to make decent profits in the last few quarters, thanks to the massive TARP funds pumped at near zero cost.
Now the banking system is expected to face more write offs , as more bankruptcies are expected due to the high unemployment. JP Morgan has reported a 3.3 billion dollars profit on the back of low write offs.
