“The banks are much better capitalized today than they were at the financial crisis, yet the severity of the downturn in 2020 leads to a more rapid increase in loan losses,” said Ken Leon, director of equity research at research firm CFRA.
“This is not, at its crux, a financial crisis,” Giannotto said. “It just happened to be so large now that the results have cascaded onto the financial industry. But by and large, the banks have been well positioned prior to this.” “The regulatory environment we’ve been in for the past 10 years has caused banks to have significantly better financials overall from a balance sheet perspective,” said Jeremy Bryan, portfolio manager at Gradient Investments.“The general expectation of the market is that numbers are going to be bad. The real question for us is, what are they saying about the next few quarters?” Bryan said. “What do things look like going forward? That’s going to be more important than the numbers specifically.
MeetThePress Lol nobody cares. Sorry CEO’s won’t be able to take their 4th vacation of the year.
Amen.
HUMBUG
great now we’ll have to bail these assholes out again
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Source: CNBC - 🏆 12. / 72 Read more »