"I'm not going to spend any time on the trading loss," says Hedgeye's Josh Steiner. "What...

|By:, SA News Editor

"I'm not going to spend any time on the trading loss," says Hedgeye's Josh Steiner. "What matters here is the ongoing deterioration in JPM's core business." The most basic item for a bank: Net interest income of $11.3B was off 5% Y/Y. Gleamed from the conference call is raised guidance on expenses - "they can't get their costs under control." (see also)