Maybe my banking diatribe yesterday was a bit too much doom & gloom. Sure Wachovia has joined the fray with incredibly bad numbers but the four "heavies" in banking may actually be on the rebound. Of course that is if you believe Cramer who's not always right or even close sometimes. This doesn't mean that your money (or even your bank) is really safe but it may not be the financial apocalypse after all.
Of course what happens once these four banks get done buying up all of the struggling banks while the regulators look the other way?
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3 comments:
You are letting the markets and media fool you. The recent increase in the market is just another head fake. A reaction to decreasing oil prices and rising dollar. More bad times coming. Wait another month or two. More new economic data comes in and the financial ripplings trickle into other areas. More time is needed for the shoe to drop in other areas.
The bank is a reflection of the market. Haven't you been reading all the new articles? Think about it, why are the banks on the verge of collapse? What the market thinks and does will directly affect whether there is a run on the bank or not.
Here is a link for ya. Check out bullet number 3. 16 yr avg, yikes!
http://articles.moneycentral.msn.com/Investing/SuperModels/MarketAtBottomDontBelieveIt.aspx
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