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Dimon: Dismal 2009
Across the Curve — The FT interviewed Jamie Dimon of JPM and he paints a less than festive picture for business prospects in the current year.

JPMorgan chief sees bleak year ahead
FT Alphaville — The US financial and economic crisis will worsen this year as hard-hit consumers default on credit cards and other loans, Jamie Dimon, chief executive of JPMorgan Chase, has predicted. Dimon, whose bank will report Q4 results on Thursday, gave his bleak assessment in an FT interview as bank shares tumbled in key markets on fears that banks would need more capital. Analysts predict that JPMorgan will just about break even in its Q4 results. Dimon said JPMorgan was prepared for a deterioration in consumer-oriented businesses but added that if things were to get worse than ...

Opening Bell: 01.15.09
Dealbreaker — Dimon Not A Fan Of 2009 (FT) You can listen to the J.P. Morgan webcast (requires registration) at 7:45. Some highlights from the 4Q Earnings Release: * $2.4B Loss in IB * In Card Services, "Net interest income was $4.3 billion, up $1.2 billion, or 38%, from the prior year, driven by the impact of the Washington Mutual transaction, higher average managed loan balances, and wider loan spreads." * Retail banking reported a Net Income of $1.0B, up 85% * "Checking accounts totaled 24.5 million, including ...

Nocera: JPMorgan's Profit Good for the Market, But Citi 'Going to Be a Bloodbath'
Yahoo! Finance: Tech Ticker — ... , business columnist with The New York Times. "Jamie Dimon has proven quarter after quarter he's the best manager in financial sector by far." Still, JPMorgan's profits were down 76% from a year ago - Dimon called the quarter "very disappointing" and the company upped its loan reserves by $4.1 billion to account for its grim outlook for the rest of the year: "The worst of the economic situation is not yet behind us," Dimon told The FT . "It looks as if it will continue to deteriorate for most of 2009." Continued deterioration and "the potential for [more] panic," is also ...

Words from the (investment) wise 1.18.08
The Big Picture — ... Jamie Dimon, chief executive of JPMorgan Chase, predicted in an interview with the Financial Times that the US financial and economic crisis would worsen this year as hard-hit consumers default on credit cards and other loans. “The worst of the economic situation is not yet behind us. It looks as if it will continue to deteriorate for most of 2009,” said Mr Dimon. ...