XLF now down 5% on the day and 75% from highs.. a drop of 75% from highs obviously means we're still in a bull market, right Stock_Trad3r?
Who the hell thought that any dividend that these banks were paying were sustainable, this is just too damn funny. You have no idea how many companies are going to cut dividends going foward, every sector of every industry will be cutting dividends, not just the banking sector.
Sorry but Meredith Whitney has been saying that Citi's dividend was NOT sustainable. On Nov. 27th she issued a research report stating that there would be more asset sales by Citi, and a reduced dividend. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aoMAgN7MJXIU In fact, she's even claimed to have received death threats for her bearish stance on the company, and dividend. But she's married to "Death Mask" ( john "Bradshaw" layfield of WWE ) and he's 6'7" and 295!
I was refering to the BAC dividend, ken lewis personally talked to her and assured the dividend was sustainable, apparently she believed him