JP Morgan 2nd Q Profit Down 53% From Same Time Last Year

This a.m. the NYTimes reports, "JPMorgan Chase, the banking giant that has weathered the credit crunch better than many of its peers, said Thursday that its second-quarter profit plummeted 53 percent from the same time last year, to about $2 billion.The firm attributed the drop to increased charges tied to subprime mortgages and other bad debt bets. JPMorgan also absorbed Bear Stearns, the