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Non-Tech : Penny for your thoughts,...

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From: Fiscally Conservative	10/2/2007 8:03:46 AM
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Big banks about to lower the boom Citigroup's warning that profit fell 60% in the third quarter is just the start. The worst isn't over, and banks' mid-October earnings reports could be bad, bad, bad. "We think the worst is definitely behind us," Sam Molinaro, the chief financial officer at Bear Stearns (BSC, news, msgs), told Wall Street analysts and investors during a company earnings conference call Sept. 20. Wall Street would be happy if you believed that. The belief "the worst is over" in the crisis that panicked the financial markets in August and still hasn't let go of its death grip on the debt markets is the best hope that Wall Street's investment banks have of getting out of this mess with their skins intact. articles.moneycentral.msn.com

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