JP Morgan finally paying cost for unethical behaviour, expert warns
Jamie Dimon, JP Morgan chief executive
A fall of 7.3% in fourth-quarter earnings for JP Morgan shows the significant cost of unethical behaviour, according to an expert in organisational behaviour. On Tuesday the bank reported net earnings of $5.3 billion, or $1.30 per share, in comparison with $5.7 billion, or $1.39 per share, for the same period in 2012. The bank's announcement highlights that its figures show a decrease of $1.1 billion after tax – $0.27 per share – "for legal expense, including announced Madoff settlements".
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