With larger banks such as Bank of America(BAC 1.75%), Citigroup(C 1.89%), and JPMorgan Chase(JPM 1.06%) providing investors with too much excitement (think lawsuits, CEO shakeups, and huge loss-making London Whale trades), We ask whether investors should be abandoning the megabanks for the likes of U.S. Bancorp.
Closing out the bank's third-quarter conference call, U.S. Bancorp(USB -0.50%) CEO Richard Davis quipped: "I hope you know that this is a pretty standard, almost boring quarter and a pretty boring bank." He continued: "We are pretty proud of that."
There is a lot to be said for "boring" when it comes to banking, given that the most "exciting" investment banks had the biggest trouble during the financial meltdown. See more in the following video.
