RE:RE:RE:Can you imagine...You know what I see coming soon....Those companies which were already in breach of a covenant and the bank was eligible to demand repayment, will do so, or shut credit lines to preserve their loan losses.
Banks definitely don't want to have to cut a dividend. They are supposed to be safe, along with Utilities and Telecoms in a downturn but I don't think even the banks will be spared. The Mortgage bonds purchase program from the Government may help in the near-term but long-term, the economy is going to need some significant work to repair.
Consumers aren't spending, meaning businesses aren't making money, meaning they can't pay their rents, meaning property owners can't pay the mortgage, meaning banks have loans defaulting. Everything spirals up from consumers not spending.
You know what I wonder the most, those insurance companies who sell business interruption insurance must be sweating bullets because 99.99% of these businesses shutting down will apply. This is going to be akin to AIG Insurancec during the MBS credit defualt insurance that nearly bankrupted them.