????會(huì)計(jì)師給摩根大通的幫助還不限于此。除了減少貸款損失入賬，該行還在從壞賬準(zhǔn)備金中提取資金。由此，摩根大通凈利潤又增加了6.5億美元。結(jié)果：原本11.5億美元的不良貸款損失，變成了盈利2億美元。

????摩根大通發(fā)言人克里斯汀?萊姆考表示，公司利潤增長主要來自業(yè)務(wù)的切實(shí)改善。“三年來我們創(chuàng)紀(jì)錄的業(yè)績，源于各項(xiàng)業(yè)務(wù)的市場份額增長，”萊姆考表示。她說，戴蒙總是告訴投資者們，他不認(rèn)為壞賬準(zhǔn)備金是優(yōu)質(zhì)盈利。

????當(dāng)然，經(jīng)濟(jì)也在改善，房價(jià)在上漲。因此，你會(huì)預(yù)期損失減少。不過，該行的不良貸款只減少了11%，遠(yuǎn)低于沖銷速度減半。而且，第一季度，摩根大通逾期超過3個(gè)月的住房貸款額突然增加了35億美元。這是三年多來該行此類嚴(yán)重逾期貸款首次大增，信號(hào)值得警惕。

????即便沒有上述會(huì)計(jì)手法，第一季度該行的凈利潤也可能增加6億美元或增長10%。因此，戴蒙應(yīng)該走人的說法顯得有些勉強(qiáng)。但同期，花旗集團(tuán)和富國銀行的凈利潤分別增長了31%和22%。摩根大通離不開戴蒙？或許我們應(yīng)該從這個(gè)角度看看。（財(cái)富中文網(wǎng)）

????That's not the only boost JPMorgan got from its accountants. On top of taking fewer loan losses, the bank also pulled money out of the fund it has set aside to cover future bad loans. As a result, an additional $650 million made its way to JPMorgan's bottom line. The result: What could have been a loss of $1.15 billion from bad loans turned into a gain of $200 million.

????JPMorgan spokeswoman Kristin Lemkau says the bulk of the company's earnings gains have come from true improvements in its business. "We have had three years of record performance driven by market share gains in every line of business," says Lemkau. She says that Dimon has regularly told investors that he does not consider loan reserve releases as quality earnings.

????Of course, the economy is improving, and house prices are rising. So you would expect fewer losses. Still, the bank's nonperforming loans have dropped by only 11%, far less than the 50% drop in write-offs. What's more, the volume of home loans at JPMorgan on which borrowers haven't made a payment in more than three months suddenly jumped $3.5 billion in the first quarter. That's the first jump in seriously delinquent loans the bank has seen in more than three years and could be a sign of more problems ahead.

????Even without these accounting moves, though, the bank's bottom line would have been up $600 million or 10% in the first three months of the year. So it's hard to make the case that Dimon should go. But earnings at Citigroup (C) and Wells Fargo rose 31% and 22%, respectively. That puts the indispensability of Dimon in perspective.