Bill Wexler's Trading Cabana Message Board

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Non-Tech : Bill Wexler's Trading Cabana

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To: ggersh who wrote (5177)	3/25/2009 9:19:20 PM
From: RockyBalboa	Read Replies (1) of 6370

Makes sense, given that they dumped a lot of book losses into the horrible 2008 year. With a clean written off book it is much easier to show profits... actually the only bank I would want to own is WFC, it is, besides its tax -saving, money losing but sterilised WB investment relatively simple, unlike JPM or BAC. Same goes for the UK where the only viable bank is Barclays (with the added bonus that the got a solid earner Lehman, for free). The late day pump until the DJ went into the green (and JPM ran back up to 28.5) was puzzling given the troubles coming from treasury placements and a pretty significant selling mid-session. Well people bought different things: Alcoa, US Steel (sending it up to 25), just not banks which performed mixed at best (see C, GS, MS).

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