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BullNBear52

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BullNBear52

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Monday, 01/15/2018 10:53:03 AM

Monday, January 15, 2018 10:53:03 AM

Post# of 54376
Tax Bill’s Impact on 4 Big Banks
The quarterly earnings season rolls on, with reports this week from Citigroup (Tuesday), Bank of America and Goldman Sachs (Wednesday) and Morgan Stanley (Thursday). All four are expected to detail one-time charges taken in connection with the recently enacted tax overhaul, which forces banks to revalue some assets and repatriate cash from overseas. The first two big banks to report fourth-quarter earnings, JPMorgan Chase and Wells Fargo, revealed one-time hits of $2.4 billion and $173 million. Citi’s charge could be $20 billion. Emily Flitter

https://www.nytimes.com/2018/01/14/business/bank-earnings-china-sundance.html?

Simon Schama, the British historian, recently tweeted: “Indifference about the distinction between truth and lies is the precondition of fascism. When truth perishes so does freedom.”

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