Q1 2008 Bank Report Card

I thought I'd make it a pretty post but didn't feel like spending any more time on it. So how did the good, smart and "prudent" banker do... Let's look at some numbers they reported.. and compile the hall of shame..

Citibank : lost $5.8 Billion.
Merrill Lynch - lost $2 Billion.
Wamu - lost $1.1 Billion.
Wachovia - lost $393 Million.

We now look at those that said they did not end the quarter by having just lost money.

Suntrust - (Net Income Down 44%) +$290.6 Million.
Bank Of America - (Profit Fell By 77%) +$1.21 Billion.
Wells Fargo - (Profit Fell By 11%) + $2 Billion.
JP Morgan Chase - (Profit Fell By 50%) +$2.37 billion

The banks need to be renamed from Money Banks to Money Losers and an irresponsible bunch of overqualified fools that were ripped off by ordinary people. I wonder why the CEO's of these banks should be paid anything to do what they do - just lose money - give it to a little kid and the kid would do the same.