The profits of the biggest US banks continued to swell in the second quarter of this year, even as the impact of five years of mass unemployment, stagnant economic growth and brutal cuts in social spending produced a further rise in poverty, homelessness and hunger. On Tuesday, Goldman Sachs, the fifth-largest US bank by assets, said its second-quarter profits doubled from a year ago, to $1.93 billion, significantly higher than analysts were expecting. This followed the announcement of record profits by JPMorgan Chase and Wells Fargo, the largest and fourth largest US banks, respectively. globalresearch.ca/wall-street-profits-and-the-widening-social-divide-in-america-2/5343044
Posted on: Wed, 17 Jul 2013 18:54:48 +0000
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