This is really shocking! It’s actually so disturbing that I’m seriously, well, disturbed by the news. I’m all for making money and I say you need to take advantage of adversity. But Wells Fargo and JP Morgan Chase have really gone too far.
We know that the hot topic during this election is the economy. Debt and unemployment are rising and so many of us don’t know what the future will bring. So then earnings reports come out showing this:
JP Morgan profits – $5.7 BILLION
Wells Fargo profits – $4.9 BILLION
And that’s for one quarter!
It’s shocking. Again, I don’t have a problem with anyone making good investments during this economy. But where these profits come from (new high interest mortgages balanced by low interest income( is at the expense of working class folks.
If I hear about any unjust foreclosures or rip-you-off interest rates I’m going to bury my money in a jar in the backyard.
Are you with me?