Everyone knew they would be good. But no one expected they would be this good. JP Morgan’s 3Q results, out today, show earnings at the bank sextupled in the third quarter compared to the same period of 2008. Earlier optimistic predictions from analysts surveyed by Bloomberg, predicted a mere quadrupling.

It’s little surprise, therefore, that in the press release announcing its results, JP Morgan moves swiftly on to highlighting the good works it’s doing helping “consumers and communities.”

Nor is it altogether surprising that, having turned a $2.3bn loss into a $1.9bn profit, JPMorgan’s investment bankers are being paid appreciatively more than they were last year. Pay per head was up 60% year on year in the quarter, to $112k per head. Jamie could pay more if he wanted though – the investment bank’s compensation ratio is stuck at 37%.

Wall Street pay will rise 20% this year. (Wall Street Journal)

Tomorrow morning, Myners will try and persuade US banks to adhere to bonus rules. (Guardian)

Goldman Sachs paid Geithner aid Gene Sperling $887,727 for advice on charitable giving. (Bloomberg)

Excluding the eye-popping bonus numbers, no Goldman Sachs executive made more than $225,000 in cash last year. (NY Times)

What we really want from Goldman bonuses. (Felix Salmon)

Lloyd Blankfein: “…we do not fire people for losses or mistakes that were honestly made.” (Financial Times)

Lights are dimming for American bankers in London. (Telegraph)

"Charming" trader, "who lived the dream," has disappeared owing £70m. (Guardian)

US wants to tax carried interest. (Bloomberg)

Kitchen worker received a retention bonus at AIG. (Financial Times)

Russell Reynolds is looking for Ken Lewis’s replacement. (Financial News)

Does banking contribute to the good of society? (Naked Capitalism)