Friday, February 20, 2009

Big Bank Cliff Diving

by Bill McBride on 2/20/2009 12:09:00 PM

More cliff diving today ...

BofA off 18%

Citi off 22%

Wells Fargo off 18%

And the phrase of the day "legacy loans" (ht Atrios)

I'm pretty sure a legacy loan is one the banks now wish they hadn't made.

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