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6 Banks: $51 Billion in '09

forwarded by ForgottenEconomy.com

Six Giant Banks Made $51 Billion Last Year; while the the other 980 banking institutions ALL lost money.

Many will immediately recognize that the 6 institutions that make up the list of 09′ profitable banks and the list of banks that were most “in need” of a  bailout are uncomfortably similar.

“past Bailouts …rewarded the worst managements, the least deserving shareholders, and the most reckless creditors. After the government’s largesse, bad companies do well – and at the expense of the well managed, responsible, non-reckless firms.”

Trading Revenue at U.S. Bank Holding Companies in 2009

source: Forbes.com via Ritholtz.com

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