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This is -- -- Imus in the morning.
Around on the Fox Business Network.
Good morning everyone JPMorgan's third quarter profit fell from a year ago as investment fees tumbled.
The bank posted a net income of four point three billion dollars.
But did beat estimates with a profit of one dollar two cents a share the estimate was for 91 cents.
Revenue also topped expectations at 24 point 37 billion dollars.
Analysts were looking for 23 point four billion shares are falling on the news.
Taking a look at the markets on the heels of that report US futures are lower across the board Dow futures are down by forty BS and -- down by six.
And the nasdaq's down by four and over in Europe it's also a down day after the ECB's monthly report said tensions and in financial markets and high and -- Will likely slow economic growth for the second half of the year with more on that ongoing crisis in Europe now joining us from London as markets dot -- chief economist.
Bill who -- bill we got more imports warning about the health of the eurozone economy in the future including the regions powerhouse.
Germany will this affect how leaders make decisions to resolve the crisis -- Excuse me we must be having a very difficult time He said about.
-- is trying to resolve a problem that's not something we have seen whether fear the UK even in the US and especially the euros on for the past.
Who knows how many months -- this is the frustration the leaders keep talking talking and talking and nothing gets done.
And they do talk a lot bill that they don't always agree I don't know we're still seeing.
A big divide between the central bank for example in sovereign governments on this crisis can ever be resolved if they don't find a common ground.
Well I think what are the things in the bond market has been telling us now for 3456.
That yes Greece will default.
I guess it's also a situation and I don't mean to be frivolous about this but I can't tell you -- many people like myself who are anti Euro zone Euro skeptic except -- think maybe we should all move to Slovakia maybe they've got it right and there's even serious talk now about may be.
Possibly Finland which is being hurt by being in the -- could finally leave it but I think one of the things you're looking at is.
I have been feeling this that way for quite a bit maybe we never came out of the last recession.
I'm still looking for the you're to be at 120 fact about a year in public it for double dip recession.
In the eurozone and after yesterday's cobra -- employment numbers here the UK things -- getting his bad is the weather -- it in landed in the simple fact is.
ECB -- thought cutting rates they may start cutting as early as December the situation right now is extremely bad not only in the UK.
But getting worse by the minute as the data came out.
From the euros.
In this morning.
The situation may be -- ability you're still smiling one of the many reasons we love having you on thanks -- that.
-- -- -- but hey that works I hope we all don't -- thanks.
-- a lag chief economist -- markets dot com thank them and later this morning hedge fund manager Raj Rajaratnam we'll find out how much time he'll spending jail for insider trading.
He could get more than two decades behind bars.
-- Webster's outside the federal courthouse in lower Manhattan now with details actually this -- that pretty big sentenced even for all the charges that he's facing now.
Yet certainly is buying good morning to -- face federal prosecutors would like cap.
rajaratnam to spend somewhere between nineteen and a half and 24 and a half years in prison.
They call him brazen they call him arrogant and they say He used inside information to generate some 72 billion dollars in profits.
Just -- -- will -- down that sentence at 10:30 eastern this morning.
But so are traditionally our sentences in white collar crimes have been -- unless you take the last couple years where sentences have started to become more severe.
Take a look at some of the other insider trading cases and the -- is.
The biggest -- so far 24 is imprisoned for Jeffrey Skilling the Enron executive back in 2006.
Then Michael Milken known as the king of junk junk bonds back in 1990 was sentenced to ten years imprisoned.
Ivan Boesky of that stock speculator was sentenced in 1987 to three years.
Because let's not forget to Martha Stewart back in 2004.
Was sentenced to five months in jail -- for lying to federal agents about selling stock in imclone if you remember that case.
If indeed mr.
rajaratnam is sentenced to 24 and a half years in prison.
He will be the it will be the biggest sentencing US history for insider trading as we -- know.
As I say at 10:30 AM that's when the F sentencing is scheduled to Begin a -- will be here covering it throughout the day Diane.
-- -- -- Taking a look at the commodities now both oil and gold are down oil down by about a dollar thirty gold down by almost eleven.
Imus in the morning continues right now on Fox Business giving you the power to prosper.
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