Many were surprised that the banking industry performed as well as it did in 2001 until they remember that there were no fewer than 11 F rate chisels during the year and acknowledge that.

Many were surprised that the banking industry performed as well as it did in 2001 until they remember that there were no fewer than 11 F rate chisels during the year and acknowledge that, whether or not we like to admit it, greatest in quantity banks' profitability is still largely based forward intermediation. What this meant in 2001 was that while other businesses large and small stomached through the symptoms of an economic recession, laid distant from workers, reined in capital expenditures, wrung their hands above the stock market and consumer confidence indices, and generally struggl to survive, banks got successful Funding costs ...