Fewer banks and higher profits. That’s the reality in post-banking crisis USA, and really the western world. American banks are doing better than ever, according to FDIC data.
America’s bank profited to the tune of $154 billion last year, nearly 10% more than the $141 billion in profits reported in 2012, and 6% more than the pre-crisis peak of the $145 billion in profits banks posted in 2006.
The US government has doled out record fines to banks, like Credit Suisse, HSBC, JP Morgan, Bank of America, Goldman Sachs. But, still these banks operate the same as before, issuing record amounts of derivatives.
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