The Banks and Massachusetts

Today’s earnings reports from US banks point to a recovery when it comes to the investment side of the business but their retail operations are showing only slight improvement. This would suggest that the economic recovery in the US is not as vigorous as the administration has been suggesting. The Massachusetts Senate setback for the Democrats surely can be linked to the sluggish pace of recovery: voters appeared to be saying that Obama and the congressional Democrats in Washington are not getting the job done — or not as quickly as they would like.

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