JP Morgan Chase reported that its earnings were damaged by mounting legal bills. CEO Jamie Dimon was upbeat in saying 2013 was a year to resolve outstanding issues like global mortgage backed securities and the Bernie Madoff scheme. However, resolution meant billions of dollars in expenses that hurt earnings and to top that off, business hasn't been all that great with profits down year over year. The banking giant has seen its mortgage business plunge during the fourth quarter.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

If you liked this article you might like

Closing Bell: LIVE MARKETS BLOG

Closing Bell: LIVE MARKETS BLOG

Cardinal Health: Why We're Not Worried About Amazon

Cardinal Health: Why We're Not Worried About Amazon

Financial Stocks Make Great Buys After the Recent Market Downdraft

Financial Stocks Make Great Buys After the Recent Market Downdraft

This Is the Perfect Time to Buy Dividend Stocks

This Is the Perfect Time to Buy Dividend Stocks

Citigroup Gives CEO Corbat 48% Pay Raise as Profitability Misses Goal

Citigroup Gives CEO Corbat 48% Pay Raise as Profitability Misses Goal