Thursday, December 2, 2010

Economics: Banks Had 40% of All the Profits

[There] could be a fundamental rebalancing of the U.S. economy in which a smaller portion is devoted to finance.

That would be a reversal from the last two decades. From the 1950s through the 1980s, financial firms counted for 10 percent of all profits in the U.S. economy. In the 1990s, that figure rose to 22 percent. By the time of the financial crisis, it had hit 40 percent

For more, see Days of Rapid Growth and Focus on Trading Are over for Banks, Analysts Say by Jia Lynn Yang, November 29, 2010 at The Washington Post.

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