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These Bank Profits Made Possible by Taxpayers Like You


By Paul Smalera
Posted Saturday, July 18, 2009 - 7:07am

This week Goldman Sachs (GS), Bank of America (BAC), Citigroup (C), and JPMorgan Chase (JPM) each announced second-quarter profits totaling $13.6 billion. Turns out much of it was based on one-time gains, says the Washington Post.

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  • Paul Smalera has written for Condé Nast Portfolio, The New York Times and The New York Observer among others. He blogs at true/slant.