WRONG DIRECTION: Big bank earnings ‘are not good numbers’ for the economy, expert warns
It doesn't [get better] from the perspective of the banks. And again, the loan loss provision is an estimate that the bank makes of what it expects to see in the economy over the next few quarters, possibly even the next year or so. And when thegoes from a massive, if you will, return of money to a massive cut in money, then you know that the banks believe that things are exactly what Jamie Dimon said in the last few comments that he's made, that they don't see good things happening.
Big bank earnings reports"are not good numbers," Dick Bove said on"Mornings with Maria" Friday, October 14, 2022.is loans have been very strong, but they're not going to continue to be very strong if, in fact, the economy slows down. Margins have been very high and they'll stay high because interest rates are not coming down. The cost of running the banks have gone up somewhat.
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