The Banks’ Earnings are like Gold, But This is Not the Golden Age of Banking
In Other Words; It’s Not the Economy, Stupid; It’s the Market
From reading the headlines, you’d think we’re in a golden age of banking. JPMorgan Chase, the undisputed titan of the American financial system, just reported a staggering $14.4 billion in net income for the third quarter of 2025. The narrative practically writes itself: a resilient economy, a healthy consumer, and the genius of Jamie Dimon have converg…