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Chart of the day: US financial profits

By Felix Salmon

Kathleen Madigan had an important post on Friday, showing financial profits roaring back to more than 30% of all domestic US profits. As she says, “that?s an amazing share given that the sector accounts for less than 10% of the value added in the economy” — and makes it “hard for banks to cry poverty” when it comes to things like debit-card interchange legislation. Madigan gave us the percentage chart, which shows the finance industry taking an even greater share of read more

Full post as published by Macroprudential on March 30, 2011 (boomark / email).