For the most part tech firms and the tech industry as a collective whole are used to seeing rising tides of cash and spending from businesses large and small. This has held true over the short history of the existence of the mainstream tech industries and tech firms. Of course we all remember the tech bubble but that and the recent economic turmoil that we have all suffered through on planet Earth has been the only down side.
The North Carolina based lender Bank of America posted a billion dollar loss for the last earnings quarter. This perhaps may not sound surprising to many but if you consider that Citi posted a profit and Goldman Sachs was confused when someone mentioned something about a recession...ha.
But seriously Goldman Sachs is right back on top posting some real impressive numbers.
The Obama Loan Modification program known as the making home affordable plan has been a success! Mortgage Lenders finally got the hint from President Obama and his administration, They are now clearly headed in the right direction and offering Homeowner Hope to those in financial distress.
Australia raised their interest rates or rather the cost to borrow money. Investors took this as a sign of hope and the stock market rallied on the news release of Australia's interest rate hike.