Texas Bankruptcy Laws

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July 18th, 2007

JPMorgan 2Q Profit Rises 20 Percent

“Although we remain at a relatively benign point of the credit cycle, we continue to focus on being prepared for a less favorable environment”

JPMorgan Chase & Co. on Wednesday reported a 20 percent jump in second-quarter profit, as the nation’s third-largest bank benefited from a surge in investment banking fees.

The New York-based bank’s shares fell more than 3 percent, however, after saying it socked more money away in anticipation of tougher lending conditions.

JPMorgan said net income totaled $4.2 billion, or $1.20 a share, in the April to June period, up from $3.5 billion, or 99 cents a share, in the same period a year earlier. Read more



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