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Title of the item:

Underwater.

Title :
Underwater.
Authors :
LARSON, ROB
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Subjects :
BANK profits
BANKING industry
BANK of America Corp.
CITIGROUP Inc.
WELLS Fargo & Co.
FINANCIAL statements
Source :
Dollars & Sense. Nov/Dec2010, Issue 291, p13-17. 5p.
Geographic Terms :
UNITED States
Periodical
The article discusses the 2010 profit report of the big four megabanks in the U.S., including Bank of America, Citigroup, Chase and Wells Fargo. The said banks reported either decrease in their profits or a very modest increase. Factors being considered in the weak performance of the banks include a bookkeeping measure that allow them to book projected profit from buying back their debt and consumption of money set aside to protect against losses on loans. The decreased income of the banks was also seen to have been brought about by falling loan volume. INSETS: One Hand Regulates the Other;Basel Faulty.
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