Replies to post #6976 on Zeev's Turnips Patch-No Politics (ZEEV)

[jbennett53]

Just the appearance of illegality may be that little straw for all the "little" people.

[Lane Hall-Witt]

wahz--

Yes, that could be. And I certainly agree that we'll eventually reach a point where enough is enough. In fact, I don't have any short positions on -- I'm waiting around for a shot at a trading rally on the long side. This situation with the banks, though, has the "feel" to me like a revelation that could carry this cycle of scandal to the next level, and that could be a very scary thing indeed.

Personally, I don't know that I've ever felt quite so mystified by the markets. We feel so oversold, and yet the momentum on the tape and of the broader financial environment is really working against us. I'm happy to be in cash, biding my time--.

[DlphcOracl]

wahz: "Nothing illegal?" Tell that to the class action lawyers.

I disagree. There is some real meat to this story and the class action lawyers and endless lawsuits will persist for years. These are multi-billion dollar corporations with deep pockets and the lawyers are now in a feeding frenzy. These lawsuits will depress the valuations of the financial sector for years to come, IMO.

Can you say: "Halliburton"?