Jim Cramer Says JPMorgan Chase Has Become a 'Can of Worms'
JP Morgan Chase reported a 6.6% drop in fourth quarter profit, largely due to increased legal costs.
JPMorgan Chase reported a 6.6% drop in fourth quarter profit, largely due to increased legal costs. TheStreet's Jim Cramer says it bothers him that JP Morgan didn't see the latest charge coming. On a conference call with reporters on Wednesday, CEO Jamie Dimon said, 'banks are under assault' and added, 'we have five or six regulators coming at us on every issue.' Cramer says he prefers other banks because JP Morgan has become a 'can of worms' when the other banks are settling down. He added that maybe the regulators dislike Dimon post 'whale' otherwise theres' something structurally wrong at that bank.
