Tuesday, August 25, 2009
The Rich Get Richer: Why Bank Failures Are Good for Financial Stocks
Guaranty Bank of Austin failed Friday, the 81st bank to fail this year. Many more are expected: Noted bank analyst Meredith Whitney predicts over 300 banks will fail while Dick Bove of Rochdale Securities estimates 150 to 200 failures.
Meanwhile, the financial sector continues its torrid rally off the March lows. The seeming contraction - more bank failures and more financial stock gains - actually makes perfect sense when viewed through the prism of the government's response to the crisis of 2008-early 2009...
Yahoo! Finance: The Rich Get Richer: Why Bank Failures Are Good for Financial Stocks
Meanwhile, the financial sector continues its torrid rally off the March lows. The seeming contraction - more bank failures and more financial stock gains - actually makes perfect sense when viewed through the prism of the government's response to the crisis of 2008-early 2009...
Yahoo! Finance: The Rich Get Richer: Why Bank Failures Are Good for Financial Stocks
Permalink posted by markw @ 4:31 AM 
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