Your Scorecard on Bank Regulation
Shares of the biggest U.S. banks took another pounding on Thursday, as Moody's followed through with long-telegraphed downgrades. The "she loves me not" messages were exacerbated by disappointment over the Fed's "Operation Twisted" action and new fears about the European and U.S. economies.
I still believe that in a few months -- perhaps just after Election Day -- we'll look back at this period and conclude that spring-summer 2012 was a bottoming period for U.S. banks, (hopefully) presaging the start of a multi-year recovery. Even though JPMorgan's (JPM) much-ballyhooed hedging losses have seemed to hamstring the industry just as it was preparing to emerge from the penalty box, CEO Jamie Dimon's defenses in the House and Senate could prove to be an inflection point....934 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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