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No WallStMaven here, but the Inag was semi-coincidental, imo...
The Financials, esp the Banks & the "banks", still suck and will
continue to suck. Another Trillion in the wings, besides TARP.
The printing presses are running 24-7 but even that cannot
force "liquidity" through a system that is near vulture-like these
days, imo. Manufacturing, retail sales, the usual stuff we all
do and buy...fugly for some time to come, imo.
Last update: 4:21 p.m. EST Jan. 20, 2009
NEW YORK (MarketWatch)-- U.S. financial stocks plunged Tuesday, falling almost 17% to match their biggest percentage decline ever as investors panicked at the likelihood that there is no end in sight for the sector's need for capital, and no easy way to raise it.
For investors who might have thought the worst was over after the nation's big three banks aired some dirty laundry last week, Tuesday provided clear evidence that the horror show continues, as well over half of the financial stocks in the bellwether S&P 500 Index lost more than 10% of their value.
One of the more witty comments I read was,
"That is what you get when you try to pick up pennies in front of a steam roller."
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