Bank of America The limits of fasting

by | April 26, 2016 12:10 pm

INVESTORS in American banks are a hardened lot. Profits at the six biggest were down in the first quarter, year on year—by as much as 53% in the case of Morgan Stanley—thanks chiefly to dwindling earnings in their investment-banking units. Earlier this month regulators rejected the “living wills”—blueprints for breaking up or liquidating a bank…

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