ALL BUSINESS: Uncle Sam helps boost bank earnings

08/02/2009 • Google

Have you ever read Barack Obama's Wall Street Problem is now Americas? Google it (by No Quarter) and Is Obama in Wall Streets Pockets (The Business Insider) Bank CEOs should give Uncle Sam a little kudos in their earnings reports. Without the U.S. government's help, financial companies wouldn't be showing such stellar results in the midst of a recession. There has been a flood of surprisingly strong profit news coming from the nation's banks in recent weeks. Asset sales and higher trading volumes have been a big help, but that's not all that got them there.