Deposit Flight Continues at Schwab, Rite Aid Goes Bankrupt

People are still pulling their money out of Charles Schwab. The company reported earnings this morning that barely beat lowered expectations while revenue came up short. But the big news was that the draw down of deposits at Schwab continues as another $20B was withdrawn by their customers. Elsewhere pharmacy giant Rite Aid has filed for Chapter 11 bankruptcy after declining sales and opioid judgements crushed company financials.

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