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PODCAST: Brown on budget, big banks report earnings

California Gov. Jerry Brown speaks during a news conference in Oakland, Calif.

JPMorgan Chase and Goldman Sachs reported fourth-quarter earnings today. Goldman's report shows it making a lot more money than forecasters expected. And JPMorgan beat expectations by a little bit. Looking wider, an improving housing market is part of why many big financial firms are doing so well.

It's not just mega-banks reporting earnings today -- eBay reports as well. After a year when its stock rose more than 60 percent, expectations are the auction site will be strong.

California is famous for wild politics and massive budget deficits. Those have recently been in the tens of billions of dollars. But just last week, Gov. Jerry Brown announced something unthinkable until recently: a balanced budget. Marketplace Morning Report host Jeremy Hobson spoke earlier with the governor about how this happened and what it could mean for the state.

About the author

Mark Garrison is a reporter for Marketplace and substitute host for the Marketplace Morning Report, based in New York.
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