Neema

Is the U.S. Banking System Safe?

Excellent thought provoking article. Fair and to the point. I don't understand this market. People say buy on fear like Warren Buffett but is this the time to buy financials? I think not. When Wachovia was at $8 per share I was going to buy but then I thought what if it goes to $3 like Washington Mutual.

Now it is up almost 10 points in 3 weeks. But what I don't understand is that they report a $8 Billion loss and the stock goes up instead of plummetting b/c the CEO says that there will be no need for additional capital.

I would be interested to get your opinions and forecast. I know we are all taking educated guesses b/c if we had a crystal ball... yeah yeah yeah...

Thanks!