Big Banks Are Still Going Gangbusters

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Monika Bauerlein,
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December is make-or-break for Mother Jones’ fundraising, and in "No Cute Headlines or Manipulative BS," we hope that giving it to you as matter-of-fact as we can will work to raise the $350,000 we need to raise this month. Donations make up 74 percent of our budget this year, and all online gifts will be matched and go twice as far until we hit our goal.

According to the Wall Street Journal, all the big banks except Wells Fargo are reporting great results for the second quarter. So naturally here’s what happened:

I’m sure this all makes sense to the literati. The bottom line, I guess, is not just that big banks are raking in money, but they’re raking in even more money than analysts expected. However, they aren’t raking in stratospheric amounts of money, so their stock prices are down.

Or something. This article says bank stocks are anemic because of fears about the flattening of the yield curve. Sure. Whatever. I’ll bet that Wall Street won’t let that interfere with bonus season.