In a Bad Economy, Banks Trade Their Way to Profits
Deseret News (Salt Lake City) › October 16, 2009
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Summary
NEW YORK -- The big banks are showing they can still make money, even as Main Street struggles -- though not from lending, refinancing homes or other bread-and-butter business.
Instead, they're doing what Wall Street does best -- betting big on stocks, bonds, commodities and other assets.See the full content of this document
Extract
In a Bad Economy, Banks Trade Their Way to Profits
Citigroup, the shakiest of the major banks during the financial crisis, reported Thursday it eked out a quarterly profit from trading, despite suffering more losses on consumer loans.
Trading also drove big profits...See the full content of this document
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