This country has experienced two successive quarters of economic contraction. That makes a recession. In this period of recession the banks that dominate the market in this country have done very well. Of the big three only one has experienced a reduction in profit based on the preceding period and that is due to there having been a sale in the preceding period of a limb of its business. What I see is that while everyone else has been tightening their belts, the banks have done just fine. Have they trimmed their profits to help support the larger economy? That would not appear to be the case. They seem less concerned with being a contribution to the economy than with taking.
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