Your Stock Market Nightmare Isn't Over:
7 Reasons Why the Market is Not Going up Anytime Soon
PLUS, 3 Trades to Make Money From the Market Now
Michael Shulman, January 14, 2009
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Reason #4: The Banks Are Falling Apart
They are a wreck and now the pieces are beginning to fly apart with Citigroup (C) struggling the most and beginning to dismember itself. Meredith Whitney, the uber-analyst right about everything in banking for more than two years, said there were $2.4 trillion in asset downgrades at the end of last year by the credit agencies, this will whack the banks' critical Tier One capital, and even if you forget earnings problems, they will continue to have no money to lend, strangling both business and another big factor in the economy…
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