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Monday, November 3, 2008

Total bank credit rebounding

Total bank credit fell sharply from April through September, but it is now growing at more normal rates. The nominal level of bank credit is at an all-time record high, however, it's good to see that the rate of growth is rising as well. This is good news for the economy; shows the Fed's actions are working and it should be good news for bank earnings going forward. Banks are incredibly cheap.

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