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Nonetheless, the move puzzled longtime market watchers, some of whom are expecting bigger troubles.
And bigger troubles came from Merrill Lynch, which Bank of America hastily snapped up in September for $50 billion.
Since it is exports that have fuelled the consumption boom, and since electronic goods have been a crucial component of exports, the economy looks increasingly vulnerable.To the east, even bigger troubles are brewing in Taiwan and South Korea.
"All 15 members simultaneously raised their hands in approval," Mr Woodford writes, like "children in a classroom".Mr Woodford then finds he has bigger troubles than losing his job; he fears for his life.
Headlines about severe fiscal distress in American cities and states — plus a series of dire statements by Wall Street seers predicting bigger troubles ahead — have led mom-and-pop investors to cut their muni holdings.
And, let's face it: a lot of people that stand up there in Canton haven't accomplished half the things he has and some of them have had much bigger troubles".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com