Thursday, June 10, 2010

It's Been a Banner Quarter For Big Banks

Did they send you a thank-you note, taxpayers? Anything?

What do you mean they just bent you over and.... ???


"The number of
troubled banks kept growing.... The largest banks showed the most improvement.... Overall, banks posted net income of $18 billion"

"Number of troubled banks grows as overall industry profits" by Alan Zibel, Associated Press | May 21, 2010

WASHINGTON — The number of troubled banks kept growing last quarter, even as the industry as a whole had its best quarter in two years....

Overall, banks posted net income of $18 billion, up from $5.6 billion a year earlier....

The largest banks showed the most improvement....

Delinquencies on commercial real estate loans remain a source of trouble. That’s especially true at smaller and mid-size banks.

Like mine?

And a further decline in home prices, expected by many analysts, would cause more losses for banks....

Yeah, the poow, poow, banks!

Sigh!

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