Securities firms go back to basics for positive quarter

Wall Street securities firms returned to the basics to post their most profitable quarter since the beginning of the credit crisis. JPMorgan Chase, Morgan Stanley, Goldman Sachs, Bank of America and other companies are leaning on strong trading and underwriting performances rather than risk and leverage. "The banks are making money the old-fashioned way, by making markets," said Douglas Sipkin, an analyst at Pali Capital.

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