Big Banks Are Still Going Gangbusters

According to the Wall Street Journal, all the big banks except Wells Fargo are reporting great results for the second quarter. So naturally here’s what happened:

I’m sure this all makes sense to the literati. The bottom line, I guess, is not just that big banks are raking in money, but they’re raking in even more money than analysts expected. However, they aren’t raking in stratospheric amounts of money, so their stock prices are down.

Or something. This article says bank stocks are anemic because of fears about the flattening of the yield curve. Sure. Whatever. I’ll bet that Wall Street won’t let that interfere with bonus season.

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“Lying.” “Disgusting.” “Scum.” “Slime.” “Corrupt.” “Enemy of the people.” Donald Trump has always made clear what he thinks of journalists. And it’s plain now that his administration intends to do everything it can to stop journalists from reporting things it doesn’t like—which is most things that are true.

We’ll say it loud and clear: At Mother Jones, no one gets to tell us what to publish or not publish, because no one owns our fiercely independent newsroom. But that also means we need to directly raise the resources it takes to keep our journalism alive. There’s only one way for that to happen, and it’s readers like you stepping up. Please do your part and help us reach our $150,000 membership goal by May 31.

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