Two Americas
emjohnson | July 16, 2009With huge profits reported this week from two bailed-out institutions, Sacramento-based real estate investor Reggie Lal is euphoric:
JPMorgan Chase & Co. posted a 36 percent jump in second-quarter profit Thursday, easily surpassing analysts' expectations, as strength in investment banking offset higher credit losses. JPMorgan, the second big bank to report stronger earnings this week after Goldman Sachs Group Inc., earned $2.72 billion, up from $2 billion a year earlier. Revenues soared 39 percent to $25.62 billion.
Results were driven by record investment banking fees and revenue in its…