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By Pat Dorsey, CFA | 07-17-2009 11:50 AM

How the Big Banks Are Stacking Up

Morningstar's Jaime Peters checks in on the current health and outlook for Citi, J.P. Morgan, and BofA following release of their second-quarter results.

Pat Dorsey: Hi, I'm Pat Dorsey, director of equity research at Morningstar. Well, the big three banks have all reported, and we now know a little bit more about their health and, by extension, the health of the American economy and consumer.

With me is Jaime Peters who follows all three and is going to tell us a little bit about the earnings and what they might mean for the outlook going forward. Thanks for joining me, Jaime.

Jaime Peters: Hello.

Dorsey: So, very big picture, the trend kind of stayed the same with J.P. Morgan knocking the ball out of the park, Bank of America kind of struggling along, and Citigroup, well, picking up the rear.

[laughter]

Peters: You have it right. Bank of America is kind of the middle player there. They just reported this morning, and they just looked kind of weak. They had consumer problems just like we have seen them in the past, and their investment bank unlike J.P. Morgan's is not quite as big. J.P. Morgan, bigger investment bank, kind of hit the ball out of the park. You are correct.

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