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Revenue at U.S. banks fell over the last year for only the 2nd time in 3 decades. Earnings...

Revenue at U.S. banks fell over the last year for only the 2nd time in 3 decades. Earnings growth was mostly from markups in lenders' troubled loan portfolios. Of the banks in the S&P 500, U.S. Bancorp (USB) had the biggest jump in revenues, +5.7%, while First Horizon (FHN) led the decliners, -18.7%. USB vs. FHN Y/Y.
Comments (2)
  • bbro
    , contributor
    Comments (9445) | Send Message
     
    We want them to lend but we don't want them to make as much money....beginning to look like a utility...
    27 May 2011, 03:40 PM Reply Like
  • Fr33f0rm
    , contributor
    Comments (300) | Send Message
     
    The bad part about that is that they're capable of looking like a utility.

     

    Utilities are heavily regulated because they have effective local monopolies. If you read Hoenig's speech recently, he spoke about the fact that there are less U.S. banks today than there were a century ago and the biggest banks have an effective oligopoly which...is not a good thing.
    27 May 2011, 03:58 PM Reply Like
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