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July 17, 2009

JPMorgan Chase Posts $2.7B Quarterly Profit
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The financial giant JPMorgan Chase has announced second quarter profits
of over $2.7 billion. The company repaid $25 billion in TARP aid last
month but continues to rely on other federal help through the Federal
Deposit Insurance Corporation and the Federal Reserve. JPMorgan is the
second major Wall Street firm to post a huge profit this week, following
Goldman Sachs’s announcement of a $3.44 billion second quarter.



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