Morgan Stanley has reported a $2.2bn (£1.4bn) profit for the third quarter of the year. The investment bank, the second-largest in the US, made the profit on revenues of $9.9bn.
Citigroup has reported a 74% increase in its third quarter profit. The US bank reported net income of $3.8bn (£2.4bn), marking its seventh consecutive quarter of being in profit.
BBC News - Morgan Stanley reports $2.2bn third quarter profit
BBC News - Citigroup's third quarter earnings beat expectations
The corporations and banks are making huge profits while destroying our country's economy - this is what the OWS/99% movement is protesting.
The nation’s largest industrial company, on Friday reported net earnings for the third quarter of $3.2 billion, up 57 percent from the same period in 2010 despite what the chief executive called a “volatile” economic environment.
http://www.nytimes.com/2011/10/22/business/ge-profit-up-despite-volatile-economy.html?_r=1
Lets get this straight...GE made 15billion in profit and not only didnt pay any US taxs at all they got a 300,000,000 tax credit and they didnt create a SINGLE JOB here.To repay the US taxpayer for our kindness they moved an entire division to china to create jobs for chinese.
Now they see their profits SOAR 57% and they still havent created a single job.
OMG we MUST give Corporations another tax cut so they create JOBS....but, but, how do we give GE another tax cut when they dont pay any taxs at all.???? Cains 999 would be a huge tax increase on the poor dears.
Know what teaparty...stop embarassing yourselves trying to tell me that tax cuts creates jobs...its a lie, its always been a lie and even you know it
The rich are doing better than ever by far and whining lotta more...pfffffffffft
My guess would be a lot of rich people who aren't paying much tax on their earnings.how is a company making a profit destroying the economy. Do you know who owns GE stock?
The nation’s largest industrial company, on Friday reported net earnings for the third quarter of $3.2 billion, up 57 percent from the same period in 2010 despite what the chief executive called a “volatile” economic environment.
http://www.nytimes.com/2011/10/22/business/ge-profit-up-despite-volatile-economy.html?_r=1
Lets get this straight...GE made 15billion in profit and not only didnt pay any US taxs at all they got a 300,000,000 tax credit and they didnt create a SINGLE JOB here.To repay the US taxpayer for our kindness they moved an entire division to china to create jobs for chinese.
Now they see their profits SOAR 57% and they still havent created a single job.
OMG we MUST give Corporations another tax cut so they create JOBS....but, but, how do we give GE another tax cut when they dont pay any taxs at all.???? Cains 999 would be a huge tax increase on the poor dears.
Know what teaparty...stop embarassing yourselves trying to tell me that tax cuts creates jobs...its a lie, its always been a lie and even you know it
The rich are doing better than ever by far and whining lotta more...pfffffffffft
Rant aside I am sure it doesn't hurt to be the President's close friend.
j-mac
My guess would be a lot of rich people who aren't paying much tax on their earnings.
My guess would be a lot of rich people who aren't paying much tax on their earnings.
I agree, lets remove corporate money from politics.
Along with union and non-profit money as well?
I agree, lets remove corporate money from politics.
Sure, I say get money out of politics in general.
Politics aside, its a perfect example of how over simplified 'solutions' probably won't work. Yes a tax cut, or tax credits, all other things equal, will give a company more profit which they could use to create American jobs, however there is no guarantee they will. Obviously something more must be done for the government to take positive actions for helping the economy turn around.
My guess would be a lot of rich people who aren't paying much tax on their earnings.
And this in my view is the problem....Can you tell me wiseone, who is it that creates the jobs, and why they are not doing so right now?
j-mac
Absolutely! That includes Union money right?
j-mac
Of course, all money. Representation should be based on voting not check writing.
How is that question relating to what I said, at all? I was talking about this specific idea many people have about creating jobs, that tax cuts alone will result in jobs. I didn't say that I have a solution, or an alternate course of action. I was simply addressing that over simplistic solutions don't seem to work. Also, "who creates job" and "why aren't they" suggests you have a very simplistic view on the economy. Its not like one solution will work for every employer, or that every employer has the same reason for not hiring.
Some of us moved those out of the US markets when GWB was elected to a second term. It was obvious to me that a crash was coming if we continued down the path he had us on.actually, the group you are looking for here is pension funds.
Lets get this straight...GE made 15billion in profit and not only didnt pay any US taxs at all they got a 300,000,000 tax credit and they didnt create a SINGLE JOB here.To repay the US taxpayer for our kindness they moved an entire division to china to create jobs for chinese.
Now they see their profits SOAR 57% and they still havent created a single job.
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