DadZilla3 wrote:JP Morgan's reported net income for 2011 was US $18.9 billion, so that cost them about 10% of their 2011 net.
Their reported operating income for 2011 was US $26.7 billion, so 2 billion is about 7.5 % of that.
You know what they say on Wall Street...a couple billion here, a couple billion there...before you know it, we're talking about a lot of money.
The way I see it... a billion dollars just isn't... what it used to be....
Seriously, 10% of NI doesn't seem so bad and 7.5% of OI doesn't either. If that is all that was lost and the amount represents a small percentage of net worth, it doesn't seem like such a big deal- other than a PR mess. If there was little further downside and a potential giant upside, it may have been a good investment/gamble, huh?
On the other hand, they could be lucky as $hit...
Maybe we can get Madoff or Arthur Andersen to do the audit and analysis... Guess we'll just have to wait until the whole story comes out,huh?