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Wednesday, October 07, 2015

Fair's fair.

Profits at big U.S. banks soar since crisis: New York Fed: 

From 2009 to 2014, the combined net income of J.P. Morgan, Citigroup, Bank of America, Goldman Sachs and Morgan Stanley annually averaged $41.73 million, up from annual average of $25.08 billion from 2002 to 2008, they said.

Helping boost profits were trading revenues that they and other dealers have seen returning to the levels before the financial crisis seven years ago. 

Their annual income was also more stable than pre-crisis levels, they added.

Before you start griping about bailouts, Joe and Jolene Taxpayer, remember: it's not like you haven't seen your net income shoot up by roughly sixty percent in the last six years, right? So there you go. 

You're welcome.

1 comment:

  1. Not that I expected much from Obama but I had hoped he would make the crooks pay. Strangely, I didn't expect him to be in router pockets.