Financials Rally, But GE Sub-$9


Major banks are up a bit after news that the government will try, yet again, to prop them up with “buffer capital” rather than biting the bullet and nationalizing them. The news, however, isn’t doing much to help out ailing GE.

Its shares are off another 4.5%, falling below $9. The stock is now off about 50% since December. For some reason, the company is still rated AAA.

The fact that the company doesn’t have to mark its books to market doesn’t seem to be helping much, does it?