After 4 years, Wall Street Banks are again at their worst and seeking support from investors

Posted By: Religare
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Wall Street's five biggest banks have again turned up as the victims of financial crisis and a recession-like situation across the major economies like US and Europe, by reporting the worst revenues for the first-half of 2012 in the past four years.

JP Morgan Chase & Co, Bank of America Corp. (BAC), Citigroup Inc.(C), Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS), have reported the combined revenue of USD 161 billion in the six months ended June 2012, which is 4.5 per cent down from the year ago period and lowest after USD 135 billion reported during 2008.

While the big-boy banks have indicated the worst has been witnessed, many experts believe that with the interest rates and investors' confidence still declining, the gloom could worsen ahead.

Read more about: banks
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