The "Too Big To Fail" Banks Are Getting Ready For Their Worst Quarter Since The Financial Crisis | WHAT REALLY HAPPENED

The "Too Big To Fail" Banks Are Getting Ready For Their Worst Quarter Since The Financial Crisis

U.S. banks could be setting up for their worst quarter in more than a decade as loan loss provisions and the pandemic are set to wreak havoc on bottom lines.

Next week, many of the "too big to fail" banks are set to report earnings and are likely going to show that a drop in consumer spending and higher loan losses were not offset by better trading gains. Loan-loss provisions should reach their highest levels since the financial crisis, Barclay's predicts.

Kyle Sanders, an analyst at Edward Jones, told Bloomberg: “We’ve got a full three months of the pandemic coming through the numbers now. The first quarter was rough, but it really only reflected a couple of weeks in March.”

Webmaster's Commentary: 

With these numbers coming up, it is only a matter of time before credit, even for companies and people with excellent credit histories, becomes darned near impossible to find, even at the most usurious of rates.

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