Another rotten day for banks

Results season this week for Q4 earnings:

JPMorgan - a $702 million Q4 net income compared to $3 billion a year ago;
Citigroup - $8.29 billion losses and breaking into two banks;
Bank of America - $1.79 billion loss, and $138 billion bailout thanks to Merrill making a $15.3 billion  loss;
Deutsche Bank - $6.4 billion loss;
Anglo Irish Bank - nationalised and Ireland's banks placed into turmoil;

and UK, US and other banks still sinking in a quagmire of toxic debts.

Solution?  Follow the Swedish (again).

And the good news?

Gary Markstein, copyright 2009 Creators Syndicate

TFI Friday!

Comments

[Dave Birch]

Surely you mean rotten day for taxpayers.