Signs of our times

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Eternal Student
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Signs of our times

Saw a headline on CNBC today; the silliness of it, and the irony, clearly escaped the author and the editor:  "Financials Turn Positive, Band of America Back Above $6".

http://www.cnbc.com/id/45886874

Ahem. It's a sad day when the good news is that BofA is above $6. Imagine you're back some years ago, with a Crystal Ball that let you peer into the future and saw that headline.

On a more serious note, I'm hearing multiple reports of BofA cutting small business owners credit lines down to $1,000.  These are supposedly from guys who have had good credit for years, and never missed a payment.

And similar to that, I see that Denninger has an interesting article today. Appparently GE Capital is cutting credit in a big way, in order to shore up reserves. Ended up shutting down a stell mill because of it.

Well, in case it's a good day for BofA, with their stock slightly above penny-stock status. Party on, folks.

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Edited by admin on 11/08/2014 - 06:02
Eternal Student
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Whoops

Apologies for the typos above. Gotta remember to have coffee before posting. :(

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