The nations largest bank JPMorgan Chase reported a record breaking quarterly profit thanks to a surge in mortgage financing.
The Washington Post reported “The bank made $5.3 billion from July through September, up 36 percent from the same period a year ago.”
Yes you heard right JPMorgan Chase, reported a record quarter profit that it claimed was made possible thanks to a surge in mortgage refinancing.
The CEO of JPMorgan Chase, Jamie Dimon said he believes “the market has turned the corner”.
So how about the average American who didn’t receive a bailout?
In 2010, NBC reported that 1.2 million households were lost to the recession. Homes that will never again be owned by those Americans again.
So how is that 2 years after over a million households lost their home, a bank reports record profits?
A bank that received 94 Billion dollars in Tax payer relief! So let’s just clear the air here.
You mean to tell me that a bank that received 94 Billion dollars from American tax payers just had a record month thanks to mortgage refinancing?
Did you just say WOW? Why doesn’t this get mentioned by the main stream media? They report the record earning but very seldom do they make the correlation between record profit and tax payers who lost their homes?
The point of this article is to bring attention to the fact that banks are still kicking people out of their homes while reporting record profits. The same people who pay the taxes that helped contribute to the bailout are not getting any help from banks like JPMorgan even after they were saved by the American tax payer.
How much greed must American Bankers display before concede to help out their fellow countrymen?
Watch as William Black tells the real truth about Banker Fraud:
Uploaded to YouTube by myfist01.