secondquarter

Banks on Wall Street report bumper second-quarter profits

BANK BOSSES were full of good cheer as they reported their second-quarter earnings on July 13th and 14th. “The consumer…their house value is up, their stocks are up, their incomes are up, their savings are up…they’re raring to go,” said Jamie Dimon, the boss of JPMorgan Chase, when analysts asked about the risk that economic growth might slow in the coming months. David Solomon, the chief executive of Goldman Sachs, sounded upbeat when asked if an executive order from the White House seeking to increase competition among businesses might cool feverish dealmaking activity: “I’m encouraged by the fact that

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