February 08, 2009 | about stocks: BAC / C / XLF
Last week, seven major corporations announced major layoffs, adding 72,000 to the unemployed. At the same time, lending by the big banks fell. With falling demand for loans, it is little wonder that President Obama described the national economic situation as "worsening day by day." Clearly, we are heading into a deepening and severe recession that is spreading worldwide.
http://seekingalpha.com/article/119172-the-road-to-bank-nationalization?source=email
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