Thread by @maxabelson

How much money is Wall Street making? This much:

The six big U.S. banks will top $100,000,000,000 this year for the first time ever. One hundred billion dollars of profit! And they're unhappy.

@HannahLevitt and I crunched some big numbers bloomberg.com/news/articles/…

Hold on! Maybe this should be my FIRST REAL THREAD OF THE YEAR

Here's more on Wall Street's happy days: JPMorgan, Morgan Stanley and Bank of America are all on track to break profit records.

When you add in Goldman, Citigroup and Wells Fargo, the six giants have *already* beaten last year's total haul in the first three quarters alone

Even if you look at those bubbly years before the crisis -- and even if you throw in the old profits of Bear Stearns, Merrill Lynch, Washington Mutual, Wachovia *and* Countrywide -- 2018 will be the most profitable in Wall Street history

And if you want to pick one explanation for Wall Street's first $100 billion year? Donald Trump's tax cuts for big corporations. The end.

PS Big thanks to @MooreMichaelJ for being smarter about earnings and Excel than me. More here: bloom.bg/2QFYFBR