NEW YORK ( TheStreet) -- Given the free money available from the Federal Reserve it is not surprising that only two of the 24 banks in the PHLX KBW Banking Index (^BKX) did not beat their second quarter earnings estimates. The four 'too big to fail' money center banks are in this banking index and as I expected each had the accounting flexibility to easily beat Wall Street estimates.When I compare assets among the 'too big to fail" banks at the end of 2010 to the assets at the end of first quarter of 2013 three of the big four are bigger.
Big Banks Are Beating Earnings Estimates
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.