Dismay Over JPMorgan, Despite A Record Year


Americans are still losing their homes and falling behind on -- or simply not paying -- their credit card debt. That was the dismal reading investors got from this morning's JPMorgan Chase (JPM) fourth-quarter and full-year results. Sure, JPMorgan's results for 2009 were remarkable: It earned $11.7 billion on record revenue of $108.6 billion for the year. In the fourth quarter, its net income of $3.3 billion was up dramatically from the $702 million it earned in the same period of 2008. "We are gratified," says CEO Jamie Dimon.