A Need for Wall Street to Improve Efficiency


America’s banks require more creativity. That conjures up fears of accounting tricks or overly complex products with zero economic or social benefit. The truth is simpler: Return on equity at the nation’s lenders and investment banks remains too low, and banks need to try something new.

At least income statements for the second quarter ought to look better than they did for the first three months of the year. JPMorgan Chase, which kicks off earnings season on Thursday, Goldman Sachs and Bank of America look ready to beat their first-quarter showings, according to Thomson Reuters estimates. Stock deals, the trading environment and mortgage refinancing have all picked up…

A Need for Wall Street to Improve Efficiency

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