You heard from where? Merrill Lynch is busily trying to find buyers in Asia to shore up its balance sheet – the full story of what ML (and other financial giants) lost in the mortgage mess still isn’t out. We haven’t hit bottom yet.
I disagree on two points. Yes, housing is soft and prices have fallen, but from what? They were way up just a few months ago. Most homeowners, myself included, have been enjoying huge gains in appreciation, and now they have lost some of that net value. Sub-prime speculators are getting what they deserve. Also, 2008 is an election year, and the Republicans will pull out all the stops to produce economic good news. The USA is strong and in a good position. And the EU? A disaster of special interests, high cost and low productivity waiting to happen. It will be an interesting year.
Kass’s annual list is always interesting. And he was scarily correct last year. He predicted the sub-prime mortgage mess and a housing crash.
I’ve heard the exact opposite on financials, particularly large banks like Citigroup, Bank of America, Wells Fargo, Wachovia…
Tony,
You heard from where? Merrill Lynch is busily trying to find buyers in Asia to shore up its balance sheet – the full story of what ML (and other financial giants) lost in the mortgage mess still isn’t out. We haven’t hit bottom yet.
CNBC. Sophy, even though the lines are blurred these days, ML is not an large bank.
I disagree on two points. Yes, housing is soft and prices have fallen, but from what? They were way up just a few months ago. Most homeowners, myself included, have been enjoying huge gains in appreciation, and now they have lost some of that net value. Sub-prime speculators are getting what they deserve. Also, 2008 is an election year, and the Republicans will pull out all the stops to produce economic good news. The USA is strong and in a good position. And the EU? A disaster of special interests, high cost and low productivity waiting to happen. It will be an interesting year.