Bank Profits Soar

Robert Borosage

President Obama got it exactly right when he said that we couldn’t go back to an economy in which the banks captured 40% of corporate profits. We needed an economy built on a new foundation.

Well, financial profits are soaring — up a staggering 240% over last year. And have reached about 28% of all corporate profits.

Banks aren’t making this money by increasing lending to companies in the real economy. They are cleaning up borrowing 0% money from the Federal Reserve and using it to buy Treasuries that pay out much more. Nice work if you can get it.

Go to the following for the charts:
http://www.tradersnarrative.com/deja-vu-all-over-again-financial-sector-profit-soars-3949.html

Comments