I read they are. Almost all of them had lower than expected earnings this quarter. Also previous low energy and oil prices played into it. Goldman sachs profits were down 55%, Citigroup profits were down 27%, Bank of America earnings down 13%, wells fargo profits were down 5%, jp morgans earnings were down 7%, and black rock earnings were down 14%. Is this a new trend or is it just something that the banks had a bad quarter?
The first quarter is typically the strongest for Wall Street as clients seek to redeploy their capital, but banks were hit hard by a bad environment for trading and deal-making.
I talked to a guy whos son works for one these banks he said man those banks have plenty of money. Some big names just added to positions in the industry to. They still say 5 banks are to big to fail.
To remove first post, remove entire topic.
I read they are. Almost all of them had lower than expected earnings this quarter. Also previous low energy and oil prices played into it. Goldman sachs profits were down 55%, Citigroup profits were down 27%, Bank of America earnings down 13%, wells fargo profits were down 5%, jp morgans earnings were down 7%, and black rock earnings were down 14%. Is this a new trend or is it just something that the banks had a bad quarter?
The first quarter is typically the strongest for Wall Street as clients seek to redeploy their capital, but banks were hit hard by a bad environment for trading and deal-making.
I talked to a guy whos son works for one these banks he said man those banks have plenty of money. Some big names just added to positions in the industry to. They still say 5 banks are to big to fail.
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