WBR: JP Morgan's profits in the billions despite huge fines
Jan 14, 2014, 07:18 PM
America's richest bank has just announced it's back in profit.
It made $5.3 billion in the final quarter of 2013 despite slipping into the red in the previous quarter and paying legal costs relating to the Bernie Madoff Ponzi scheme.
The author Bill Cohan is a former managing director at JP Morgan. He speaks to Mark Whittaker about why the bank has been so resilient.