No joy on Wall Street as biggest banks earn $63 billion
(Source: Bloomberg News, October 3, 2012)
NEW YORK — Four years ago today, President George W. Bush signed into law the biggest corporate rescue in American history. Even as U.S. unemployment has remained above 8 percent for 43 months, the country’s biggest banks are making almost as much as they ever have. The combined $63 billion in profit reported by the six largest U.S. lenders over the four quarters through June is more than they earned in any calendar year since the peak in 2006. But those billions of dollars in profits aren’t enough, according to interviews with more than a dozen bank executives and analysts.
Full story: Bloomberg News
Thursday, October 04, 2012