The much anticipated JPM earnings are out and while the company beat superficially, posting Q4 revenue of $24.4 billion vs expectations of $24.3 billion, and adjusted EPS of $1.35 "ex-items" vs expected $1.22, the real story as usual is below the surface. And in this case below the surface means what happens with the firm's Net Interest Margin, Trading Revenues, Loan Loss Reserve Releases and, of course, the busted "CIO and Treasury" aka London Whale unit. Starting with the last we have this: "Treasury and CIO reported a net loss of $157 million, compared with net income of $417 million in ... Read More