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JPMorgan Chase Records Record Profits Amidst The Record Number of Foreclosures


JPMorgan Chase announced that they had a record profit year for 2011. They were profitable by a staggering $19 billion dollars for the 2011 fiscal year. The company reported a 3.7 billion profit in the fourth quarter.  In 2010 they reported an annual profit of 17.4 billion dollars for the year. 
   
However, these numbers did not meet analysts expectations for which they predicted for 2011. JPMorgan Chase also had to pay 3 billion dollars in legal fees due to all the issues with fraudulent mortgages.