The super-low bank P/E ratios may be showing something of a question. J.P. Morgan Chase & Co. (NYSE: JPM), Bank of America Corporation (NYSE: BAC) and others top banks may have a combined $13 billion in profits under question from the before and after of the bailout. $13 billion may not be much in the total profits of then banking sector, but this Bloomberg story from the weekend is something which might be no different from phantom income.
The $13 Billion Earnings Question For Banks (JPM, BAC)
By
Jon C. Ogg
Published
About the Author
Jon C. Ogg →
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
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