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Weekend Investment Reading – Banks are Money Machines

While we were thinking that the financial industry is in shambles and that they need all kinds of help, the banks [1] are quietly racking up billions. Wells Fargo reports that they believe they will make $3 billion in the 1st quarter. With record deposits, ultra low interest rates [2] from the fed [3], retail banks are making a ton of money in this environment. Obviously, the big question is whether the loan losses will slow down and be small enough so that the banks can absorb them, but trying to project the outcome is why investing is fun right?

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