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"We're trying to make clear to you this would be a dramatic reduction in profits," says Jamie...

"We're trying to make clear to you this would be a dramatic reduction in profits," says Jamie Dimon (JPM), responding (earnings call) to a question about mortgage revenue guidance. Mortgage production could drop 40% if rates stay at their current level, says CFO Lake. Earlier, the bank reported originations up 12% from a year ago, but off 7% on a sequential basis.
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Comments (5)
  • minecanary
    , contributor
    Comments (859) | Send Message
    Which is why he gave Benny new marching orders last week..
    12 Jul 2013, 10:27 AM Reply Like
  • mickmars
    , contributor
    Comments (1322) | Send Message
    Criminals.... And all that's on the news is the Zimmerman trial.
    12 Jul 2013, 12:49 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
    Dimon when interviewed this morning: 'rates going up is a good thing...We all want normalized rates.'
    12 Jul 2013, 12:41 PM Reply Like
  • nafar
    , contributor
    Comments (289) | Send Message
    they were expecting US$ 2 bn profit on every hundred basis point increase. Why a u turn now?
    12 Jul 2013, 03:28 PM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (12415) | Send Message
    Dimon wants normalized rates while keeping attached to the Federal Reserve's free money spigot. They are the suckee and want to make everyone else the bigger sucker.
    12 Jul 2013, 04:44 PM Reply Like
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