Debt, like capital or labour, is a scarce resource — it is the role of banks to ensure that debt is allocated efficiently. But baks are not always the greedy, fat-cat evil characters they are made out to be.
Consumer debts
Bittersweet victory: JPMorgan overtakes Citi as second banana
It doesn’t mean that much except for bragging rights, but JPMorgan Chase has overtaken Citigroup as America’s second biggest bank by market value after its shares fell again overnight, writes Glenn Dyer.
