It can't continue that way forever. Companies like google wall mart, mc donalds, rimm, apple drive the economy. No citi or bank of america.
XLF plunged 15%, KBE(banks etf) plunged 18%. Unreal, market seem to be pricing in nationalization risk
The days of reckoning are upon us...honestly though, what were you expecting....the banks collectively are bankrupt and my gut turns when I think that they still pay ANY dividend with MY money. Turn out all the senior executives (liars) and employ individuals that will now be prepared to work for a reasonable salary. This BS has to stop....Sometime ago I indicated that the government would essentially be the bank of choice...not that I like it , but we have to accept the fact that these banks really screwed everybody over and we have to eat it. It will have a material affect on any economic upturn,however that should not be reasonably expected to happen for a couple of years at least. First things first...get the financial structure revamped, in other words ...get all the shit written off once and for all, then reregulate, not increase regulation, and hope to Christ we don't have any calamities...we may then be going in the right direction.