But no, I have seen no reports of “record profits.”
I watch the biz reports..Corps are getting ready to release their quarterly reports. The conventional wisdom is that the WS types are wxpecting reord profits (as evidenced by GS, and smaller than expected loss by Citi). When the bonuses were announced by BOA, the reporter from Fox called them asking if they were hiring. They said they are ALWAYS hiring.
Historically, the Market always goes up when the “little” guys are suffering (unemployment) It is a given, when unemployment is high, the overhead of Business is declining. (Econ 101)
JPM JUST ANNOUNCED 3.6 BILLION PROFIT. oops cap lock on. They to their credit made it honestly. Paid back all BO funds which they didn’t want to begin with.