Monday, December 13, 2010

Winners and losers

Exciting news from Wall Street! Thanks to low-interest rates and an influx of capital from the Fed's emergency lending program and the Troubled Asset Relief Program, Bloomberg reports that 2010 is on track to be the second most-profitable year in Wall Street history. "Even if this quarter only matches the third, [Goldman Sachs, JPMorgan Chase, Bank of America, Citigroup and Morgan Stanley's] revenue will top that of any year except 2009," reporter Michael Moore writes.

1 comment:

KhabaLox said...

Wait, so the most profitable year is still the one where the rest of the country was in the throes of the Great Recession?

Also, without reading the original article, I'm wondering why the switch from "profitable" to "revenue."