dow futures showing a brave face, page-42

In regards to JP earnings,

actually it's 400M loss without accounting based merger gains and level 3 asset reclassifications. Basically the profit is due to new SEC accounting guidelines, which allow the top banks banks to financially engineer earnings statements without fear of prosecution, in all reality proping up balance sheets.

When will people learn not to read the headlines?

Welcome back to the days of Enron, the USA has a very short memory.