What does the earnings report tell you? Bad times are not over. More layoffs? But also need revenue growth to get out of this hole.
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The report doesn't tell us much that we didn't already know..market was hoping for a bit rosier of a report so some people took their profits. It's temporary, the big questions remain 'when will the asset cap be lifted' and how much expenses can be reduced without k–ling the golden goose. People talk about the company like it's going in the tank. We have a very conservative business model. When the FRB is off our back, we make about $5B/quarter in profit. Most of our issues at this point revolve around cutting a bit of fat and fixing compliance. If we can do that, we'll go right back to making those kinds of profits and the share price will improve.
I'd bet more profitable LOBs will be sold for a short term gain, and revenue and expenses will both fall, and the efficiency ratio will still be horrible