Last night Frontier Communications filed for bankruptcy.- JC Penny is preparing to file for bankruptcy. The 'too big to fail' (or jail, apparently) Banks have set aside billions for 'losses' and I don't think it will be enough as their profits drop sharply (watching JPM tank right now). There's serious trouble in the US Oil industry while US demand for gasoline takes a dive. This is the sucking chest wound caused by shutting down the economy, and there's worse to come IMO.
Courtesy of Mark Simone
1 minute ago
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