Though the earnings from the IB division of the bank fell, JP Morgan reported higher than expected earnings. As a result it will cut its IB bonus poll...
http://dealbook.blogs.nytimes.com/2010/10/14/JPMorgan-cuts-i-bank-bonus-pool/?src=twt&twt=nytimesdealbook
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Did you even read the article? Earnings are up but IB revenue has fallen by up to 30%.
No I didn't read it, I just found the link and posted it. Yes I read it. My point was that despite the uptick in reported earnings yesterday (which was a fairly high profile report), IB still took a hit. Thanks for the feed back though.
The main reason their earnings are even up is because they reduced their reserves for future losses.
True, I just thought the forum as a whole would be interested in the decline in Bonuses.
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