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It Pays To Be A Bank
Banks. It's good to be one.
Quarterly results from a handful of majors on Wednesday showed it still pays to be in the money business.
JPMorgan's traders scored their best fourth quarter ever, for example, and it was gangbusters over at Goldman too. David Solomon's guys (and gals) hauled in $6.2 billion in revenue across FICC and equities trading (the latter had a record year), easily better than the $5.44 billion consensus expected.
Goldman put up a decent showing in IB as well. Revenue there
“Room to improve penetration” – when you’re a bank, they just let you do it.
Finally, someone is looking out for those poor, starving bankers. The MAGA faithful can sleep tight knowing the bankers and tech titans will be able to fill up their money bins to the tippy top and Trump’s cabinet will protect them from the big, bad DEI officers.