One of the reasons for holding falling financial stocks like BAC, WFC and UBS so long was their dividends. And I understand–regular dividends often cushion the blow from falling prices. But just last month, Wells Fargo chopped its quarterly dividend from 34 cents to five cents. Bank of America’s quarterly dividend has been slashed from 64 cents to a penny. And UBS has suspended its dividend entirely! Bottom line: you can’t even justify holding these stocks for their dividends any more! So what do you do if you want regular income? What do you do if you’re retired and...
