Chairman of Major Bank Says Mortgage Industry Bottom Hit

Bloomberg News reports that JPMorgan Chase & Co. (JPM)’s Jamie Damon says losses have peaked in the United States mortgage industry.  The chairman and chief executive officer (CEO) of the financial services and banking industry giant, says home prices may slip further, but the worst is behind us.  JPM is the most profitable bank in the U.S. today, and having already bought back $3 billion of its own stock this year, is buying it back faster than it initially thought it could.


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