Thursday, June 23, 2011

S and P 500 Companies Sit on $800 Billion in Cash, A New Record

This sum, however, is still less than half the total of all corporate cash.

The story from John Melloy is here:

“This is a systemic problem post-Lehman,” said Larry McDonald, author of ‘A Colossal Failure of Common Sense, the Lehman Brothers Inside Story.’ “After a near death experience with the capital markets closed for a record 18 months, they've raised cash now and are cautious. Imagine if you're a CFO and you went through this near death experience.”