U.S. Bank Profits: A Beautiful Piece of Fiction
By Satyajit Das
PostedMarch 11, 2014
Banks sure have turned things around, eh? Since 2009 (in the years following the financial crisis it helped create) global stock prices have rallied significantly. And financial stocks, in particular, have done considerably well – with US banks up by over 200%. But as Satyajit Das points out, these gains are just part of an elaborate fiction…