FDIC: Bank earnings hit five-year high in 2011

“Banks with assets exceeding $10 billion accounted for almost all of the earnings growth in the fourth quarter. While they make up just 1.4 percent of U.S. banks, they accounted for more than 81 percent of the earnings.

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“Those banks include Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co. Most of them have recovered with help from federal bailout money and record-low borrowing rates.”

LINK.

Corporate Profits Rise…but Wages Fail to keep Pace with Inflation

“Earnings for businesses began to rebound in early 2010 and have continued to do well ever since. By the third quarter of last year, pre-tax corporate profits climbed to a record $1.97 trillion.
 
“Meanwhile, the consumer price index, which is used to measure the rate of inflation, reveals that inflation went up 2.3% from last year to now. During this same period, average hourly earnings climbed only 1.5%.”

LINK.

Yes!

Millions of Indian workers strike for rights

One-day walkout hits transport, banks and post offices, as unions seek better rights and protest over rising prices.

LINK.

Well, this is interesting.

Obama sidesteps NDAA provision requiring military custody for terror suspects

“US President Barack Obama announced measures Tuesday allowing civilian investigators to handle cases of terror suspects, effectively sidestepping a 2011 law requiring they be brought before military courts.”

LINK.

Iran nuclear talks with six-nation group of powers set to be agreed

Leading French candidate vows 75 percent tax on super rich

You can make internet traffic go more quickly by CLOSING routes!

http://www.physorg.com/news/2012-02-black-sheep-internet-efficiently.html

Boxturtle (Link button not working for me, darn it)

Jamie Dimon doesn’t want to friend you:

JPMorgan Chase & Co. (JPM), the largest U.S. bank by assets, said about 70 percent of customers with less than $100,000 in deposits and investments will be unprofitable following regulations that cap lenders’ fees. … JPMorgan, run by CEO Jamie Dimon, sees its greatest opportunity with affluent customers that have more relationships with the company … “Lost revenue has to be replaced with higher share of wallet and customer penetration,” Maclin said.

MF Global clients know all about being penetrated by JPMC.