Write offs to continue …
Oppenheimer and Goldman Sachs bring the RED INK to the financials again.
Goldman might be oportunistic as it sees cuts for Q1 but does not really change the 2008 outlook by too much … You know … HOPE is important 
They expect:
- Citibank to write off a further 12 bln$
- JP Morgan to write off 3.4bln$
- Lehman 3.5bln$
- Bear Stearns to take a 1.4bln$ hit
- Morgan Stanley is seen writing off 3.1bln$ and
- Merill Lynch “modest” 4bln$ …
All this still not sounding “really better” … it is Q1 oly … OMG …
Is there really ANYONE out there, thinking, this will end soon???
Look at Oppenheimer … AUTSCH …
As Goldman cuts Citibanks 2008 forecast ONLY to 2.50$/share, Oppenheimer cuts it to 75cts(!!!)/share ONLY
They see NEED for Citibank to sell 100(!!!) bln$ of assets to put its balance sheet “right” and see share price falling to UNDER 16$ !!!!! WOW 
If this happens, all financials will be in big trouble and all bond insurers will be GONE …
Anybody interested in the QUARTERLY capital hikes of some banks??? We assure the recession, a deep and long one … YEARS not months!
House prices will at least HALF and not recover until 2010 …
Don’t believe the Bernankes and Paulsons …
They are only employed to (try to) prevent a panic … but they will be helpless … structural problems need structural solutions, not talks!
Tags: Bear Stearns, Bernanke, bond insurers, Citibank, financials, Goldman, JPMorgan, Merill Lynch, Morgan Stanley, Oppenheimer, Paulson
