Sunday, January 25, 2009

USA's Bank Bets -- What Next?

From the New York Post:

"The capital injections haven't worked," said Edward Yardeni, an independent market analyst...

With a little over $350 billion already infused into the banking industry through TARP and countless billions through the Fed, many see the cash having little benefit for the economy. Plus, some Wall Street firms have estimated that it will take $3 trillion to right the banks.

"The size of the problem is growing faster than the banks' ability to handle it," said Joe Battipaglia, market strategist at Stifel Nicolaus.

"We're halfway through the bailout money, and the banks are in worse shape than they were six months ago."

Here is the full story.