Far from the crisis: the big banks have started running again, and their profits put together in the last quarter are worth, one million plus one million minus, as much as the entire financial package of a country like Italy. They are in fact 24,3 billion put together in the third quarter of this year by Goldman Sachs, Morgan Stanley, JP Morgan, Wells Fargo, Citi and Bank of America (the so-called Big Six): therefore a record year is shaping up, almost on the levels of 2006, when before the explosion of the crisis and the bankruptcy of Lehman Brothers in 2008, the six largest banks closed the twelve months with 83 billion in total profits.
In recent months, their booty is therefore just below what the Renzi government wrote in Budget Law: 26,5 billion euros. According to Brussels, among other things, there would be 1,6 billion in spending too much: exactly the profit achieved in 90 days by Morgan Stanley, the smallest of the big ones. This is the umpteenth positive news that comes from overseas, after that of a few days which certified the substantial recovery of the stars and stripes economy in this phase: while Italy and Europe are struggling and still registering zero growth in the third quarter US GDP grew by 2,9%even beyond expectations.
