Positive bank reports offer new hope for economy

The World

As the nation awaits President Obama’s speech on the state of the economy, some of the country’s largest banks are reporting positive earnings. Both Wells Fargo and Goldman Sachs reported even larger than expected first-quarter returns. Is this the hope we’ve been waiting for as we wait results from the other “too big to fail banks” this week? And what does it mean to be profitable when you owe the nation a multi-billion dollar debt? For some perspective on what this means for the state of banking and the public’s perception of banks, The Takeaway is joined by James Surowiecki who writes The Balance Sheet blog and is a business columnist for The New Yorker.

Do you support journalism that strengthens our democracy?

At The World, we believe strongly that human-centered journalism is at the heart of an informed public and a strong democracy. We see democracy and journalism as two sides of the same coin. If you care about one, it is imperative to care about the other.

Every day, our nonprofit newsroom seeks to inform and empower listeners and hold the powerful accountable. Neither would be possible without the support of listeners like you. If you believe in our work, will you give today? We need your help now more than ever!