US Banking Industry Records Record $42.2 Billion Profit for April - June 2013
Editor@TheIndependentDaily.com
Record profits posted by the US Banking Industry of more than $42 Billion for the second quarter of this year. After reading the data below, read Joe Bialek’s, Good Questions Regarding CEO Pay, here.
In related news:
ATM fees (source, CNN Money). “It's the second fee that is making the trip to the ATM so costly. Fees banks and credit unions charge non-customers for using their ATMs have soared 20%, from an average $1.75 per transaction in 2007 to $2.10 in 2012, according to a study conducted by the U.S. Government Accountability Office.”
Bank CEO Pay (source, Equilar Inc). $28 Million, Ken Chenault, AMEX; $23 Million, Richard “What’s in your wallet?” Fairbank, Capital One Financial; $19 Million, John Stumpf, Wells Fargo; $19 Million, Jamie Dimon, JP Morgan; $13 Million, Lloyd Blankfien, Goldman Sachs; $13 Million, Steve Kandarian, MetLife; $13 Million, Joseph Hooley, State Street; $13 Million, Gerald Hassell, Mellon; $12.4 Million, Michael Corbat, Citigroup; and $10.4 Million, James Gorman, Morgan Stanley. (Do any of the above bank names ring a bell? They should: Many received taxpayer funding under Bush and Obama’s bailout.)
Bank Teller Pay (source, National Tracking). Nationwide, $26,000 per year. Note, “Average Bank Teller salaries for job postings nationwide are 58% lower than average salaries for all job postings nationwide.”
Passbook Savings rate (source, Bankrate.com). Total Bank Average, Annual Percentage Yield 0.04%.
Certificate of Deposit rate (source, ibid). $5,000 minimum deposit, minimum of Five (5) years, Annual Percentage Yield 1.0%.
Under the above scheme Alaska is returned to Russia - let President Putin deal with Sarah Palin (five-to-one he has her in the sack within a week) - and Hawaii reverts to tribal monarchial rule. The State of Apathy is represented in Congress by three Senators and 12 House members, a mix of Republican and Democrat, since they’re both idealistically the same, anyway, and the office of President is replaced by the office of Grand Imam (or Caliph).
That should work...