Prediction: Contagion to lead to consumer credit recession

Discussion in 'Economics' started by ASusilovic, Nov 3, 2007.

  1. Bank stocks tumbled around the world on Thursday as investors focused on the continued fa]llout from the US subprime mortgage crisis…

    Betsy Graseck, an analyst at Morgan Stanley in New York, predicted there were would be “contagion” from subprime mortgage lending to prime mortgages and to car and credit card loans. This “consumer credit recession” in the US would outweigh recovery in capital markets since the squeeze in the summer, she said…

    Seems the ladies on Wall Street are assuming power. First, Meredith Whitney, whose downgrade of Citigroup Inc. shares helped wipe out $369 billion in U.S. stock market value, said she was the only analyst on Wall Street with the guts to say the bank may cut its dividend. And now Betsy at Morgan Stanley predicting consumer credit !:D :D :D
  2. It's bearish when there's too much estrogen in the market. Financial institutions might all get drawn into a vortex of downgrading one another at this rate.
  3. Societe Generale SA and Credit Suisse Group led European banks lower after Bear Stearns Cos. downgraded the stocks.

  4. Another overpaid idiot regurgitating the usual recession BS.