Good Growing Weather for the House of Morgan
JPMorgan Chase kicked off the earnings season on Friday with news that it turned a strong $17.4 billion profit in 2010, up 48 percent from $11.7 billion the year before, as the consumer lending environment improved and commercial banking notched record results.
The state-appointed emergency financial manager for Detroit Public Schools this week revealed more details of a worst-case budget plan for wiping out a $327-million deficit by closing 70 schools, increasing high school class sizes to 62 and all but decimating budgets for athletics and administration.
Wars and panics on the stock exchange,
machinegunfire and arson,
starvation, lice, cholera and typhus:
good growing weather for the House of Morgan.