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It has almost become a mundane truth in the direct aftermath of a crisis: If Main Street is doing well, Wall Street is doing even better.

This time around is no different, as illustrated by second-quarter earnings from JPMorgan Chase & Co. and Goldman Sachs Inc. Banking was the clear bright spot, with JPMorgan posting a record quarter for dealmaking and Goldman reporting a 36% increase in revenue in its investment-banking group.

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