Marketplace Index for Friday, January 13, 2012

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Episode Description 
Just when things were starting to look up in Europe, Standard & Poors announced credit ratings downgrades for several European countries, including France and Austria (from AAA to AA+). Even more troubling was news that Greek officials ended negotiations on a debt swap with private creditors without reaching an agreement. Mark Blyth from Brown University says Greece has four ways out of its crisis: devalue, deflate, inflate or default. The Daily Pulse is down today on news that JP Morgan Chase announced a 23-percent drop in fourth-quarter profits compared to the same period in 2010. But don't fret, they still made record profits in 2011.

Fourth quarter profits down for JPMorgan Chase

America’s biggest bank announces a 23 percent drop in fourth quarter profits but still has its best year ever.
Posted In: banking, J.P. Morgan Chase, profits, net income

Devalue, deflate, inflate or default

France and Austria get credit ratings downgrades, and Greece weighs its dwindling options.
Posted In: greek bailout, Greece, Europe debt crisis, Euro Eurozone