That seems to be the big news in this WSJ story about JPmorgan (JPM).
It starts out provocatively enough — JPMorgan is fighting proposed limits (on what?) — but the story is basically: JPMorgan is acting like a normal, aggressive bank again.
- It’s going after top talent.
- It’s fighting derivative regulation.
- It thumbed its nose at the government with respect to the TARP warrants.
- It’s profiting from its WaMu branches
- Its acquisition of Bear Stearns is paying off.
If there’s something to take away between this and Goldman Sachs it’s that the big boys didn’t listen to all the people calling for a return of boring, risk-less finance. The good old days are back — there’s just no housing bubble.
Just the existence of this story would seem to portend a huge number from the bank when it reports tomorrow.
We shall cover thoroughly.
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