The banks are back. Profits are up. Writedowns are lower. The government has their back. And the worst is over.

Forget Swiss-based USB. Their huge losses were the exception…

Judging by their latest quarterly reports, big banks have finally figured out how to make money again. Read the full story

I knew something was up when Citigroup shares were hovering just over penny stock territory and the media began to report on a “leaked” internal memo from the company’s CEO. In the memo, Vikram Pandit praised his staff and made the surprise announcement that the company was profitable in January and February. “We are having our best quarter-to-date performance since the third quarter of 2007,” he wrote. Read the full story