Moon Kil Woong

Faltering Financials Forecast Continuing Failure for Stocks

There is leadership but on the downside. It's the usual suspects banking and housing. But now joined with it is semiconductors and tech. As for the upside, I agree, there really isn't solid sectorial leadership.

What do you expect, first the government becomes the lender of last resort and now wants to be the spender of last resort. What can we expect in the future, the robber of final resort. Were do you think they get their money if they don't falsify their financial like Maddoff (they do it with social security in tapping all the deposits and never paying it back, in Iraq borrowing rather than declaring it as spending, and the fed lending rather than recognizing losses tied to their guarantees. There is no such thing as market to market with the government. More like mark to whatever you want and pray.

Anyway, there is nothing we can do. Everyone is government charge card happy now that $1 trillion seems like nothing.