Bottom Fishers Take Warning
Story today with Merrill warning investors that financials are a "value trap" in that they look like they are under valued but there is no catalzyt for them to turn around and people are just realising the problem isn't just a US problem but in markets around the world. I've been warning since January 07.
WaMu is a prime example, needing a $7 billion cash infusion. This is massive dilution and all the new players have preferred terms to current shareholders.