Many interesting pics out moments ago from the Federal Reserve in the snappily titled report, Profits and Balance Sheet Developments at U.S. Commercial Banks in 2008. A sample, rearranged to tell their own story:
1) Bigger is better!
2) 'Cause concentration permits economies of scale!
3) Looked hunky dory 'till '07...
4) Damn ninjas! They lied to us!
5) And the so-called business elite were just as freaking imprudent! I mean, how the hell did some of the CEOs behind all these "strategic visions" get their jobs!?
6) Still, at least we managed to dodge the bullet to the heart - phew!
7) Course it was with help - the taxpayer backed us whole heartedly with new capital in recognition of our inherent worth and superior risk-management skills...
8) ...and just in time to stop these numbers changing sign! See you in Courchevel if not the Maldives!