Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

WFC 94.35

-0.2%

3:59 PM EST

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To: damainman who wrote (121)	2/26/2009 11:12:45 AM
From: tejek	of 1428

Good articles. I agree with much of what he says. However, what can not be ignored is that many American banks are sitting on some toxic CDOs and no one has decided how to deal with them. That's why more and more people are getting frustrated with Geithner and his seeming inability to come up with a plan. Today's rally is more based upon the announcement by the UK this AM that the gov't will back up the toxic assets in their banks. No such plan has been developed for American banks. Frankly, I think Geithner is in over his head. Having said all that, I believe that BAC will make it in its present form. I just don't know when will be a good time to start buying. Painful losses can still be ahead for that stock. What do you think?

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