Reuters says we’re in the money!
U.S. bank earnings reached a more than four-year high in the third quarter, but regulators are warning that the industry faces challenges that include the risk of the European debt crisis washing up on U.S. shores…On Tuesday, the FDIC released its latest quarterly report, which showed that the industry had earned $35.3 billion (22.6 billion pounds) in the third quarter, the most since the second quarter of 2007.
Well, we’re not in the money, but, you know, it’ll trickle down eventually, I’m sure. Just imagine how much money these banks would be making if they didn’t have to deal with the government’s skanky-ass regulations.
Nah.
EU bond exposure to PIIIGS bonds is at worrisome levels, actually, and they’re just papering it over (again, yes, yet another time).
And who holds those bonds?
US banks.
Put your money in a credit union or small local bank.
Welcome to the stupidity of Obama Centrism.
Welcome to a Super Congress of a few people designed to make people think it’s folly to assume they have any participation whatsoever.
Welcome to tieing up all capital so that no jobs are created.
Welcome to being a permanent underling of the state…the Obama State…the Prison State.
LET THEM EAT CREDIT DEFAULT SWAPS!
So now the banks are going to shore up that windfall in sound investments to protect themselves in the event that the Euro crisis does hit us hard.
hahahahaha. Just kidding!
PIMCO now rates the US as having a 50 percent certainty of a double-dip recession, according to midday Bloomberg news, btw.
I’m looking at the 10-year graphs of the stock prices of Bank of America and Citigroup. They both look like they’re on the way out.
@2 The man who has been paying close attention to the economy since January of 2009 has spoken!