Banks Earn Huge Profits And Still Whining About New Regulations While Working-Age Men Can’t Get A Job

Wall Street Profits and the Widening Social Divide in America
The profits of the biggest US banks continued to swell in the second quarter of this year, even as the impact of five years of mass unemployment, stagnant economic growth and brutal cuts in social spending produced a further rise in poverty, homelessness and hunger.
On Tuesday, Goldman Sachs, the fifth-largest US bank by assets, said its second-quarter profits doubled from a year ago, to $1.93 billion, significantly higher than analysts were expecting. This followed the announcement of record profits by JPMorgan Chase and Wells Fargo, the largest and fourth largest US banks, respectively.
JPMorgan made $6.1 billion in the second quarter, up 32 percent from a year ago, while Wells Fargo took in $5.27 billion, up 20 percent. JPMorgan Chase is expected to make $25 billion in profits this year, equivalent to the gross domestic product of Afghanistan, a country with a population of 30 million.
Citigroup and Bank of America, which together were bailed out by the US government to the tune of $90 billion, likewise posted huge profit increases, with Citigroup posting profits of $4.18 billion, up 42 percent from a year earlier.
Pay for bank CEOs has likewise soared, according to data reported by the Financial Times. John Stumpf of Wells Fargo received $19.3 million in 2012, up 7.8 percent from the year before. He was followed by Jamie Dimon of JPMorgan Chase, who took in $18.7 million, and Lloyd Blankfein of Goldman Sachs, who received $13.3 million.
…
The obscene enrichment of the financial elite amid mass poverty is treated as a non-issue by the media and the politicians, Democratic as well as Republican. The entire political establishment is on the payroll and under the control of the Wall Street bankers.
http://www.globalresearch.ca/wall-street-profits-and-the-widening-social-divide-in-america-2/5343044
Banks Earn Huge Profits After Whining About New Regulations 
Banks have been warning for well over a year that tougher regulations and stricter capital requirements would hurt their businesses as well as the overall economy. Yet they’ve been announcing huge profits.

http://www.moneynews.com/FinanceNews/bank-profit-regulations-capital/2013/07/18/id/515733
Gas Prices May Hit $4 by Labor Day
http://www.moneynews.com/StreetTalk/Schork-gas-prices-4/2013/07/17/id/515667
The Number Of People Becoming Realtors Is Exploding
Read more: http://www.businessinsider.com/realtor-ranks-exploding-2013-7#ixzz2ZPCRGtZA
This has more to do with being unable to find work than the housing market exploding. Realtor is one of the low-cost options for starting ones own business. Get a realtor’s license (at little cost), set one’s own hours and pray you sell a house worth enough commission to feed your family for a couple of months.
What little work is available out there is shit hours, stand on your feet all day, bust your ass for minimum wage shit jobs. And even those are getting more and more difficult to find.
The Top 20% Have No Idea How The Bottom 40% Get By
http://investmentwatchblog.com/the-top-20-have-no-idea-how-the-bottom-40-get-by/
The Collapse of Jobs for Working-Age Men

July 18 (Bloomberg) — In today’s “Single Best Chart,” Bloomberg’s Scarlet Fu displays the drop off in employment for American males age 25-54. She speaks on Bloomberg Television’s “Bloomberg Surveillance.”
In today’s “Single Best Chart,” Bloomberg’s Scarlet Fu displays the drop off in employment for American males age 25-54.