Posts tagged as:

Wall Street

What Wall Street Needs is a Few Good Men

by MoneyMorning on September 22, 2008

Editor’s Note: Today we have an essay from Dan Amoss, a regular contributor to The Daily Reckoning Australia. This essay appeared in last Thursday’s edition of the DR. We hope you enjoy it.

What a week in the financial markets! I recently returned from a trip through New England’s scenic vistas. Tourists were plentiful and cheery. Most enjoyed blissful ignorance of the credit crisis - and how the government’s response to it will ultimately impact their lives.

And few got the memo from Wall Street strategists that they are supposed to stop driving because oil is over $100 per barrel. Americans love their mobility, and they will pay a premium to keep it. I expect the resilience of energy demand to surprise many.

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Turkeys on Wall Street

by Kris Sayce on September 15, 2008

There is the old phrase to describe those that prepare the ground for their own demise, ‘turkeys voting for Christmas.’ At the moment they are setting the temperature and hoping it doesn’t get too hot.

Mainly because some of those banking executives that are sharpening the knife for Lehman are in very real danger of ending up on the roasting rack themselves. If share price performance is anything to go by, Wall Street has big concerns over Citigroup [NYSE:C] and Merrill Lynch [NYSE:MER]. The share price of both companies has fallen by more than 60% in the past year.

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