The credit crunch is certainly hurting banks. A lack of trust (OK, let's call it fear) is making it hard for them to raise money by issuing bonds. But if you're someplace like Microsoft? These are great times. You can offer bonds that barely pay any interest at all and people will snap them up.
This is a sign of how strange things have gotten. Usually banks are seen as the safe investment. Safe as...umm...houses.
You'd think a place like General Electric would be doing OK. But GE senior VP Mark Little told me last night money was hard to get these days. Can you guess why?
Yes, GE makes light bulbs and jet engines. But they also do financial services, which account for about half the company's income. GE was recently added to the list of companies you're not allowed to short-sell for the moment.