Financials are trading lower, possibly due to Fed president Dennis Lockhart's earlier comments...

|By:, SA News Editor

Financials are trading lower, possibly due to Fed president Dennis Lockhart's earlier comments that regulators "can't guarantee" against the failure of individual financial firms, nor have they put a system in place that would allow orderly failures of the largest financial firms without taxpayer rescues: Goldman Sachs (GS -5.4%), Morgan Stanley (MS -6.5%), JP Morgan (JPM -5%), Bank of America (BAC -5.6%), Citigroup (C -5.2%), American International (AIG -4.7%).