Ph.D. Octopus

Politics, media, music, capitalism, scholarship, and ephemera since 2010

Good Growing Weather for the House of Morgan

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By Wiz

Item 1:

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.

Item 2:

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.

Original Quote:

Wars and panics on the stock exchange,
machinegunfire and arson,
bankruptcies, warloans,
starvation, lice, cholera and typhus:
good growing weather for the House of Morgan.


Written by Peter Wirzbicki

January 15, 2011 at 14:31

Posted in Uncategorized

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