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Quote for the day:
I have long argued that paying down the national debt is beneficial for the economy: it keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
- Alan Greenspan
In the news:
Home building projects started in March fell by 11.9%; building permit activity, was off 5.8%.
Wells Fargo reported $2 billion in net income for the first quarter down 11% from last year. Revenue was at a record high of $10.6 billion up 12% from last year. Wells Fargo will set aside $326 million for further mortgage-related write downs.
JPMorgan Chase reported $2.4 billion in net income for the first quarter down 50% from last year. Revenue fell to $17.9 billion from $19.7 billion. JPMorgan Chase took mark-downs of $2.6 billion.
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Quote for the day:
I have long argued that paying down the national debt is beneficial for the economy: it keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
- Alan Greenspan
In the news:
Home building projects started in March fell by 11.9%; building permit activity, was off 5.8%.
Wells Fargo reported $2 billion in net income for the first quarter down 11% from last year. Revenue was at a record high of $10.6 billion up 12% from last year. Wells Fargo will set aside $326 million for further mortgage-related write downs.
JPMorgan Chase reported $2.4 billion in net income for the first quarter down 50% from last year. Revenue fell to $17.9 billion from $19.7 billion. JPMorgan Chase took mark-downs of $2.6 billion.
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