When an entire financial system is saved by the state, no bank can claim to have had a “good crisis”. Still, JPMorgan was less reckless than most and kept its head – picking up Bear Stearns and Washington Mutual for peanuts. Notwithstanding the odd billion dollars of one-off trading gains, JPMorgan will continue to glow after yesterday's third-quarter results. Net profits jumped by a third versus the previous bumper quarter, dragging shares 3 per cent higher.
在整个金融体系都是由国家拯救的情况下,没有哪家银行可以声称这场危机“也有好的一面”。不过,摩根大通不像多数同行那样不计后果,而是保持着清醒——以很小的代价收购了贝尔斯登(Bear Stearns)和华盛顿互惠银行(Washington Mutual)。尽管摩根大通是凭借一次性交易所得实现了数十亿美元的盈利,但今后它仍将延续出色表现。该公司当季净利润较获利丰厚的二季度增长三分之一,推动股价上涨3%。