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Financial Stocks Are Ready for Their Pullback

"sand castles of purchasing power" sounds like a Danielle Steele novel.

Banking Sector: Band-Aids Just Won't Do It

there is always someone willing to pay to buy something that may not have the value specified. the government supports home ownership in every form to allow creation of a tax base for states and local governments and as r e problems arise and foreclosures increase than tax revenue declines and the need for more taxpayers becomes apparent. just look at the bail out bill closely and see how government benefits, if banks take the write downs...a big if. lets not forget about other debt: builder construction loans, home equity loans, purchase money home improvement loans, credit cards(see amex), automobile loans/leases (see chrysler), student loans, etc.
If banks can convince everyone that only the foreclosures are bad and everything else is ok, then everyone will be willing to accept the market declines are not as bad as thought and maybe I should buy. The new paper will replace the bad paper, securitize it and sell it and business as usual. Oh yes, since tax revenue has declined we (Fed/States) will need to raise taxes to replace the lost tax income
but probably only temporarily (right). please name one government program that is not a ponzi scheme.

U.S. Credit Card Industry Moving into Uncharted Territory

is this Moody's report before or after the computer glitch?