Banks--- Betting on the recovery Message Board

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

WFC 93.23

-1.2%

Dec 31 3:59 PM EST

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From: David C. Burns	2/23/2009 2:53:41 PM
	2 Recommendations of 1428

Time to Stop the Nationalization Rhetoric, and Let the System Work ...This week, the stock market broke through its technical support levels, and now appears headed toward 6,000 as its next support level. Some observers have suggested that the decline reflected the market response to looming plans for the "nationalization" of the banking system and one more step down the road to socialism, as trumpeted on the cover of Newsweek. But market decline was not a result of the fear of nationalization, and nationalization would not mark the next milestone on the road to socialism. Quite the contrary. Investors are running away from banks -- good banks and bad banks alike -- precisely because the federal efforts to date have obscured the true financial condition of the banks. Faced with uncertainty and poor information, investors will always pull back and wait for the fog to clear... huffingtonpost.com

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