JP Morgan is. (Literally.)

Chase (now merged with JP Morgan) is not only UCH's largest single customer (miles for credit cards), but is also UCH's lead banker, credit card processor, creditor, and business partner (Mileage Plus). It is absolutely no surprise that Tilton ended up at JP Morgan after he departed daily management of UAL since the two are joined at the hip. UCH and JPM are serious dance partners and no second guesses on who is leading.

One can interpret JP Morgan public 'analysis' any way one likes, but one can't consider them an impartial source.