Business News • MarketWire • Political Intrigue -- the Good, the Ugly and the Bad |
Political Intrigue -- the Good, the Ugly and the Bad |
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Political Intrigue -- the Good, the Ugly and the Bad
JOHANNESBURG, SOUTH AFRICA--(Marketwire - April 23, 2010) - www.rothmanresearch.com -- One would think that after six of America's largest financial institutions delivered close to $19 billion worth of net income in the last few trading sessions, following two years of recessionary pressure the scale not seen since the Great Depression, the market would be all bulls and rallies. Following JPMorgan Chase & Co. (NYSE: JPM) earnings release last week there were great expectations and high hopes on the street and within the industry that the financial turmoil was squandering and banking in the U.S. was finally coming out of a painful Chemo therapy. And this sense of beatitude seemed to have been consolidated with each bullish earnings release from major banks, creating a rally in the financial sector that has long been missed. Even Citigroup Inc.
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