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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 401 no. 8756 (Oct. 2011), page 80-82.
Topik: Investment Banking; Financial Performance; Business Conditions; Economic Conditions; Bank Earnings

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.68 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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For Goldman Sachs, it was losses in private equity. For Wells Fargo and JPMorgan Chase, it was a decline in the spread between what they pay for deposits and what they get on assets. For Citigroup, Morgan Stanley and Bank of America, it was the accounting lunacy that allowed them to extract profits from a decline in the value in their own debt. Almost every big American bank provided its own depressing jolt to their third-quarter announcements of what were once known as "earnings" but now are more accurately termed "results". But uniting them was an inability to offset what was bad with anything that was particularly good. Revenue growth for the year ("growth" is another of those anachronistic words) will be the worst since 1938, reckons Mike Mayo of CLSA Securities. For Goldman Sachs, it was losses in private equity. For Wells Fargo and JPMorgan Chase, it was a decline in the spread between what they pay for deposits and what they get on assets. For Citigroup, Morgan Stanley and Bank of America, it was the accounting lunacy that allowed them to extract profits from a decline in the value in their own debt. Almost every big American bank provided its own depressing jolt to their third-quarter announcements of what were once known as "earnings" but now are more accurately termed "results". But uniting them was an inability to offset what was bad with anything that was particularly good. Revenue growth for the year ("growth" is another of those anachronistic words) will be the worst since 1938, reckons Mike Mayo of CLSA Securities.

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