Inaugurating a new series of Daily Notes. Not full blog posts, but gleanings from Twitter postings etc. Semi-daily. Minimal text. Just jarring, fascinating or intriguing pointers. This seemed like a good one to start with.

source: http://www.nakedcapitalism.com/2017/06/trump-administration-welshes-repeal-dodd-frank-promise-not-back-key-elements-house-bill-seeks-give-banks-lots-goodies.html

Yes. Those are US bank profits across the crisis.

Bank profits in the US have surged and surged again. Points to the fact that the Dodd-Frank regime is really a second order issue. The main mode of macroprudential policy since 2009 under the Stress Test regime has been rebuilding “financial stability” through ample profit-making. The Fed/FDIC/Treasury actually target profitability and its distribution in dividends. And yes, ladies and gentlemen, the banks banks played along.

Fascinating detailed statistics from the FDIC here. https://www.fdic.gov/bank/analytical/qbp/

Stuff for a much longer post at some point. But that is not the point of the Daily Notes.