The American Spectator

home
ADVERTISEMENT

The Spectacle Blog

Bank of America $35 Billion Short?

By on 5.6.09 @ 8:51AM

Monday, after I wrote that the economic fundamentals "suck," the stock market actually had a good day, gaining more than 200 points. Now, however, comes the bad news. Bank of America is reportedly facing a $35 billion capital shortage. 

Meanwhile, Chrysler won't repay its federal bailout loans and the company's private creditors are outraged by the Obama administration's hardball tactics.  And -- when it rains, it pours -- Rep. Henry Waxman is reportedly ready to "fast track" his climate-change legislation.

About the Author

Robert Stacy McCain is co-author (with Lynn Vincent) of Donkey Cons: Sex, Crime, and Corruption in the Democratic Party (Nelson Current). He blogs at The Other McCain.

http://spectator.org/blog/2009/05/06/bank-of-america-35-billion-sho
ADVERTISEMENT

Clip of the Day

ADVERTISEMENT

Home |About |Contributors |Advertise |Donate |Privacy Policy |Contact

The American Spectator Foundation is the 501(c)(3) organization responsible for publishing The American Spectator magazine and training aspiring journalists who espouse traditional American values. Your contributions are tax deductible to the extent permitted by law. Each donor receives a year-end summary of their giving for tax purposes.

© 2012 Copyright, The American Spectator. All rights reserved.