This is what it looks like on the down side of the biggest oil boom in U.S. history. JPMorgan Chase & Co., Wells Fargo & Co., Bank of America Corp. and Citigroup Inc., with a combined $190 billion in energy loan exposure, all announced this week that they’re setting aside more money to cover losses. Though energy is a relatively small share of their assets, it’s been a big issue on analyst calls this week. The record-breaking surge in U.S. oil production wouldn’t have been possible without a tremendous amount of debt. Many independent drillers, the small producers that drove the shale boom, outspent cash flow ... READ MORE
