Also lots of chatter about JPM's "fortress balance sheet." Ahem, shorters are already crossing the moats.
Amusing highlights from investor presentation just posted on JPM's website:
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- Given highly uncertain environment, we are acting with an abundance of caution in reducing quarterly dividend to $0.05 per share;
- For 1Q09 QTD, the Firm is solidly profitable, even after significant additions to reserves;
- Continue to feel great about future prospects of Company;
- Even in this highly stressed environment we would maintain our fortress balance sheet and continue to invest in our businesses;