Why banks' better-than-expected earnings could cause major headaches for the Obama Administration in the Apr. 17 edition of The Business Week
This week Goldman Sachs (GS) and JPMorgan Chase (JPM) became the latest banks to report earnings that topped expectations. Goldman reported a profit of $1.8 billion in the first quarter while JPMorgan Chase made $2.1 billion. This follows the unexpectedly strong quarterly numbers from Wells Fargo (WFC) last week. Goldman and JPMorgan now want to return the billions of dollars they received in federal TARP funds. This puts the Obama Administration in a difficult position of potentially having to delay the repayments to protect the banking sector as a whole.
Find out why in the feature section of our weekly video edition of The Business Week. Plus: when spending on advertising may improve, why Fiat (FIA.MI) is getting tough on Chrysler, and what economic reports to watch for in the week ahead.
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