by Calculated Risk on 2/20/2009 12:09:00 PM
Friday, February 20, 2009
Big Bank Cliff Diving
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.