Wall Street Manna

An irreverent look at Wall Street

Monday, December 10, 2007

Prepare for bank consolidation

Mergers. Takeovers. Call them what you want. But there will be a wave of them. The amount of cash that wants to get in on the financial stocks, shows that the bears position has been a canard. Everyday, we see the financials getting a handle on the "writedowns." And somebody will come up with the idea that maybe the writedowns won't be writedowns.

And this, is what the bears are completely unprepared for. They expected take-unders, and going out of business sales. Take-overs and business as usual weren't even in their vocabulary.

They better get a new dictionary.

They're coming.

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