The Fed has left the room.
After the party, the hangover.
But it’s a godsend for savers.
Competition for cash returns for the first time in 9 years, and banks hate it.
Retailers in bankruptcy are notoriously hard to restructure.
Well, they do pay higher rates, but not to their own clients.
Wells Fargo has $81 billion in exposure to loans that, on paper, it isn’t exposed to.
For a prisoner exchange between Switzerland and Spain?
It’ll take many more sell-offs and the collapse of many more iffy stocks before this over-enthusiasm, after nine years of central bank nurturing, is finally wrung out of the market.
And private equity firms are at the helm.