For whatever it's worth, P/E is not a good way to value banks. The normal measuring stick for bank valuation is price/book.
Banks' raw material for making money is their cash on hand to lend out. Even if their earnings suck now, if they have a lot of cash (ie book value) to lend, they have the potential to earn more profit later.
JPM's price to book ratio is 2.5x right now, which is just stupid and makes no sense. Why would you pay $100 for a claim on $40 of JPM's cash?
With that being said, the entire stock market's valuation right now is unjustifiable, so JP Morgan's just shooting par for the course.
I agree that OP's post is useless trash.
"Taco wants to lend $20 billion of our money to bail out a political ally and his global investors before an election.
Oh, and Argentina just struck a major deal with China that crushes American soybean farmers already suffering from Trump's tariffs.
“America First.”
Earning money is difficult. If it were as easy as taking out a loan and suddenly it doubles or triples, why would the loan issuer lend it out for 6% if it could double or triple it instead?