In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
That indicates Bank of America’s current operations might be unsustainable. It may need to cut back on some activities or close a lot of branches just to survive. A big problem here is that brick and mortar bank branches might no longer be profitable. Perhaps they should be closed and replaced with automatic teller machines.
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A major problem is that revenues at JPMorgan and Bank of America are well below their historic highs. JPMorgan reported revenues of $99.13 billion back in June 2013; Citi reported revenues of $77.40 billion as recently as September 2014, and BOA’s revenues hit a high of $97.59 billion in June 2012.
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