Sunday, August 2, 2020

New York Big Banks and Investment-Related Companies Saw Their Total Pretax Earnings Improve By $161.1 Bil During the Obama/Biden Administration, Going From Total Pretax Losses of $64.9 Bil in 2008 To Total Pretax Earnings of $96.2 Bil in 2016. And These New York Financial Companies Performed Substantially Better on the Annual Audited Pretax Earnings Growth Front During Obama/Biden's Eight Years in Office (Up an Impressive 31.0% Per Year) Than They Did During Trump/Pence's First Three Years in Office (Up 8.7% Per Year).

From a review of SEC filings and Google Finance, there were 20 Big Banks and Investment-Related Companies headquartered in the State of New York with stock market caps recently of above $1 bil and which reported Pretax Income (Loss) From Continuing Operations in their annual financial statement earnings information filed with the SEC in each of the most recent twelve years (Fiscal Years from 2008 to 2019).  Also, I included only Companies which were headquartered in New York for the majority of these twelve years.

The table below shows the Pretax Income (Loss) From Continuing Operations for each of these 20 New York Big Banks and Investment-Related Companies for fiscal year end 2019, the last year of the Donald Trump/Mike Pence's first three full years in office so far,  for fiscal year end 2016, the year before the start of the Donald Trump/Mike Pence Administration as well as also the last year of the Barack Obama/Joe Biden Administration, and for fiscal year end 2008, the year before the start of the Barack Obama/Joe Biden Administration.


Average Average
Annual  Annual 
Annual Audited Audited Audited % Change % Change
Audited Pretax Pretax Pretax During During
Fincl Income Income Income Trump- Obama-
Sts (Loss) (Loss) (Loss) Pence Biden
New York Financial Companies City State 2019 FYE FYE FYE 3 Years 8 Years
Stock Market Caps Above $1 Bil HQs HQs FYE 2019 2016 2008 2017-19 2009-16
 $ mils  $ mils  $ mils
Big Bank and Investments-Related Cos
JPMorgan Chase New York NY Dec 19         44,545         34,536           2,773 10% 143%
Citigroup New York NY Dec 19         23,901         21,477       (52,355) 4%
NM
Morgan Stanley New York NY Dec 19         11,301           8,848           1,254 9% 76%
Goldman Sachs New York NY Dec 19         10,583         10,304           2,336 1% 43%
American Express New York NY Dec 19           8,429           8,042           3,581 2% 16%
BlackRock New York NY Dec 19           5,787           4,455           1,016 10% 42%
Bank of New York Mellon New York NY Dec 19           5,587           4,725           1,946 6% 18%
KKR & Co New York NY Dec 19           5,168              975       (13,048) 143%
NM
Blackstone Group New York NY Dec 19           3,818           2,382         (5,608) 20%
NM
Apollo Global Management New York NY Dec 19           1,408           1,061         (2,927) 11%
NM
Ares Capital Corp New York NY Dec 19              793              474            (139) 22%
NM
Jefferies Financial Group New York NY Nov 19              479              (13)            (372)
NM
NM
Evercore New York NY Dec 19              438              261                (9) 23%
NM
Lazard Ltd New York NY Dec 19              393              517                25 -8% 246%
AllianceBernstein Holding LP New York NY Dec 19              266              239              279 4% -2%
Cohen & Steers New York NY Dec 19              188              143                46 10% 26%
Prospect Capital New York NY Jun 19              144              103                28 13% 33%
Golub Capital BDC New York NY Sep 19              (19)                69                (3) -43%
NM
Apollo Investment Corp New York NY Mar 20            (116)                18            (612) -248%
NM
Icahn Enterprises LP New York/ Sunny Isles Beach. FL NY Dec 19         (1,739)         (2,373)         (3,066)
NM
NM
Total all 20 Big Bank and Investments-Related Cos       121,354         96,243       (64,855) 8.7% 31.0%