All Posts Tagged With: "financial sector"

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Financial Stocks to Remain Under Pressure in 2008

Look for current rally to fizzle and for financial stocks to remain under pressure in 2008.

While the perhaps heroic, certainly desperate actions of Ben Bernanke and the Federal Reserve bank have brought some relief to the Wall Street investment banks, commercial banks, and mortgage companies look for the relief to be very short lived.

In my opinion, the problems with the world’s financial system, with the United States in the lead position, are just far greater than the solutions. In the end we will be lucky to avoid a financial meltdown.

The desperate nature of the Fed’s recent actions should give us an idea as how close to the financial abyss we truly are. Exchanging government treasuries for toxic waste mostly worthless subprime mortgage and CDO paper and the like seems to be a bad exchange to me.

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24Mar2008 | taipan | 0 comments | Continued

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