The whole name of the game in banking right now is trying to generate high-interest-yielding assets. That's what the credit card business is. Everyone has these deposits right now. They have to put them to work. |
There weren't any real black eyes for Merrill this quarter. It was good for them, and it was good almost everywhere. |
We've seen the major car wrecks already. |
When rates rise, it's just difficult to make money. It's going to be hard on a lot of players. |
You can only do so much in asset-backed before you're hurting your profitability. |
You're seeing a little bit of a rotation. |