Brian A. Davis

Financial-Dip Buyers Forget To Ask What's Next

All of these banks in general, and mortgage exposed in particular (like BAC) are praying that the House and the Senate can stamp out a bill that will make the Federal government responsible for their trashy loans... Sounds more like the "moral hazzard" that was sounded off time and time again last week. Remember House members up up for re-election every other year... Who wants to be the guy who increases the national debt...bails out the big corporations...and weakens the dollar?

Soon the euphoria will be over and the financials will not be allowed to celebrate "lower than expected losses"... and be treated like winners...

Let's not forget that credit cards are teh next shoe to drop...and BAC has the highest exposure in that area!!!