Federal Deposit Insurance Corporation (FDIC) said Tuesday that the banking industry earned $34.5 billion in the second quarter, up from $28.5 billion in the second quarter of 2011. Banks were also less cautious about lending, though earnings growth remained 'sluggish' according to the Federal Deposit Insurance Corporation.
Prepaid cards are surging: By 2013, consumers could be loading three times the amount of cash they carried on prepaid cards in 2010.
Desperate for money, troubled banks are turning to unconventional sources to gain capital – and getting bilked in the process.
Germany's Angela Merkel made her most forceful comments yet on the possibility of providing shared eurobonds and an FDIC-like guarantee for bank deposits. The Reformed Broker composes a poem in honor of the occasion.