Quarterly Report: 2008 4th JPMorgan reports a gain from governme

JP Morgan posts profits. Is that true?

1. Profit: $702 million, or 7 cents per share Vs $2.97 billion, or 86 cents per share in 2007
2. Investment bank: $2.9 billion markdowns
3. Merger-rated items gain: $1.1 billion It is one kind of legal robbery!!!
4. New credit extended: more than $100 billion
5. Investment bank: a loss of $2.4 billion vs a profit of $124 million a year agao
7. Card services: a loss of $371 million vs a profit of $609 million a year agao
9. Retail financial servers: a 15 percent drop in profit to $624 million
11. Asset management: income fell to $255 million from $527 million a year agao
13. Corporate and private equity : income rose to $1.5 billion from $270 million a year agao
15. The commercial banking : a record profit of $480 million, up from $288 million a year agao
17. Treasury and securities services : a record profit to $533 million from $422 million a year agao
19. For all of 2008: a profit of $5.6 billion/$1.37 a share vs $15.4 billion/$4.38 a share

Where is the profit coming from? Robbing Washington Mutual and borrow from the US Treasury, the tax payers!