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Market Currents

Monday, November 2, 2009
1:48 PM TweetThis
  • Today's late morning selloff coincided with the House Oversight hearing on commercial real estate. Fed's John Greenlee sent a chill through markets when he said (.pdf) banks remain at risk of "sizable additional credit losses" given the outlook for production and employment, adding, "Poor loan quality, subpar earnings, and uncertainty about future conditions raise questions about capital adequacy for some institutions."
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This news story has 9 comments:

  •  
    so it appears the bears are back to using the old tactics that all financials are going BK. Very concerning that the market are listening to this non-sense, but if it continues to happen it could cause issues.
    Nov 02 01:55 PM | Link | Reply
  •  
    What do they mean sent a chill down their spines, didnt they know, its been all over the net, in the papers, its no surprise, but what it proves is one of the reasons this market rally has done so well is because when the MM and traders go to work they make sure to put on their blinders and use their ear plugs because they dont want anything getting in the way of what they choose to believe.
    Nov 02 02:05 PM | Link | Reply
  •  
    So when he said "uncertainty about future conditions", he meant to say, "uncertainty about what destructive policies this administration will come up with next to "fix" the economy", right?
    Nov 02 02:11 PM | Link | Reply
  •  
    I don't see these as "old tactics". They're more like old facts reappearing that have been buried since March.
    Nov 02 02:11 PM | Link | Reply
  •  
    9 banks BK on friday. Thats getting significant.


    On Nov 02 01:55 PM Stone Fox Capital wrote:

    > so it appears the bears are back to using the old tactics that all
    > financials are going BK. Very concerning that the market are listening
    > to this non-sense, but if it continues to happen it could cause issues.
    Nov 02 02:15 PM | Link | Reply
  •  
    Guns---Think how significant the tally will be in about 8 or 9 months.
    Nov 02 02:24 PM | Link | Reply
  •  
    guy has no business saying truthful things. Just ruins everything.
    Nov 02 02:30 PM | Link | Reply
  •  
    I think it's the uncertainty the Fed brings to the market that hits asset (stock) prices so hard... it's OK for bad banks to fail, it's OK for loans to go bad and get written off, but it's totally NOT OK for the Fed to pick and choose which banks survive and which do not. It's the "some institutions" language and prospect of further government involvement in private markets that makes stocks go down.
    Nov 02 02:36 PM | Link | Reply
  •  
    alexandre,

    agree, as well as the Fed's "double speak". One day it's Bernanke's "recession's over". Next day it's a Fed Gov saying "everyone under the table now!"

    The lack of consistency tells me they're clueless.
    Nov 03 08:20 AM | Link | Reply
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