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Non-Tech : Banks--- Betting on the recovery -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (399)	4/21/2009 10:50:23 AM
From: Road Walker	Read Replies (1) \| Respond to of 1428

Meredith Whitney: Banks Likely To Return To Losses-Bloomberg 10:27 AM EDT April 21, 2009 DOW JONES NEWSWIRES U.S. banks will likely return to "negative earnings" after posting first-quarter profits, Meredith Whitney, of the Meredith Whitney Advisory Group said in an interview with Bloomberg Television Monday. Whitney said conditions at Bank of America Corp. (BAC) that boosted first-quarter earnings, including widening credit spreads and gains in agency paper sales, aren't "replicable." "The underlying credit is deteriorating at an accelerated pace," she said. The window to raise equity capital has closed and banks will begin selling non-core assets, Whitney said. "You will see what I describe as a yard sale." Full story at bloomberg.com -Dow Jones Newswires; 201-938-5500