photo by extranoise
Quote for the day:
"We ran into a hurricane."
Jimmy Cayne, Bear Stearns Chairman to a group of shareholders as they approved the merger with JPMorgan Chase.
In the news:
The University of Michigan's Consumer Sentiment index fell to a 59.8 in May, the lowest since June 1980. The report's short-term inflation expectations gauge jumped to the highest level since the early 1980s, and longer-term views on price growth hit their highest since 1995.
"In April, 73,880 homeowners with privately insured mortgages fell more than 60 days late on payments, compared with 39,584 who got back on track." Sphere: Related Content
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