SURPISE! Banks lending nearly free money from the FED turn a profit

You mean by responsibly charging more for a commodity than you paid for it means you can turn a profit.

Investors have been grasping at any sign of improvement in the crippled banking industry, and Wells Fargo's report Thursday that it expects first-quarter earnings of $3 billion provided an encouraging sign that a deep freeze in borrowing activity may finally be thawing. Wells Fargo said it benefited from its January acquisition of Wachovia and an increase in mortgage applications.

What is most laughable is that even though these moron's are getting at least a 5% return on the loans they are making, the investor's still are afraid that they can't "unfreeze" the credit system. The system is frozen for those of us who were irresponsible and need a fresh infusion of credit to right the ship. This smells like profit-taking to me.