Shares of Bank of America ( BAC) closed at $7.94 Friday, returning 43% year-to-date, after dropping 58% last year.
Who needs the Fed? Interest rates are already rising, and Bank of America is reaping a windfall.
The credit derivatives market is worth trillions, but are they really a time bomb waiting to decimate the financial markets? Warren Buffett's warnings haven't scared Citigroup.