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In response to
"I think it was hyde that brought up the 'sell on fact' thing ... it kind of explains today -- nm"
by
Beryllium
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it explains a little of it. really, today was pretty much mostly about "oh crap, the banking system really might be largely insolvent"...
Posted by
x (aka dmuck)
Jan 20 '09, 13:55
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the financials have been a disaster in '09. the s + p bank index was already down like 30% through last friday, and you can toss double digit losses for citi, wells fargo and bank of america on top of that today. it's not pretty.
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