U.S. banks posted their highest quarterly profit since mid-2007 in the first quarter. ¬†It’s amazing to see where these stocks are trading at right now despite their strong profitability. ¬†Lending activity decreased in the quarter which is not a positive for the U.S. economy, but frankly is to be expected due to all of the regulatory hurdles the banks are navigating right now.

http://online.wsj.com/article/SB10001424052702304707604577424101192978154.html?mod=WSJ_hps_LEFTTopStories

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