Banks are winning the race — by going as slowly as possible.
Ever since the financial crisis of 2008, regulators have been pushingJPMorgan Chase (JPM) , Bank of America (BAC) , Citigroup (C) and other big U.S. lenders to bolster their capital — the buffer of extra assets that’s supposed to help prevent a collapse when losses swell. The aim was to prevent government bailouts and protect the global financial system from market turmoil that would presumably follow the failure of a gargantuan financial institution.