本文发表在 rolia.net 枫下论坛1. The negative impacts might be more severe than we have felt. It is the first time that central banks of the US, EC, Japan, Canada, and Australia took action to boot investors' confidence since Sep 11, 2001. Compared to ordinary investors, these bankers have much more sources to understand the situations. It is not strange for stock market to correct from 14k to 13.2k. They should not react so actively. Consequently, I believe some hidden bad credits will show up sooner rather than later. This is likely to explain why those investment banks, eg, BSC, LHE, MER, did not rebound sharply after the feds injected 38b funds into the market for two days in a row.

2. The acquisitions and mergers are becoming difficult and expensive. Half of impetus to drive the latest rally to 14000 on Dow resulted from them. All banks have started to tighten lending criteria to avoid being involved in bad credits.

3. The most direct impacts are that all financial institutions can get less revenues, because they cannot receive regular interests and accelerating debacles of some hedge funds related to mortgages. The indirect impacts, or 'widespread', will be materials, furniture, major electronics, equipments in industry, and from the US through worldwide.


Investment strategies:
In the long term, USD could be stronger against other currencies. The following companies could be performing better than others in the coming years: having sufficient cash and capable of generating cash, eg, eBay, MSFT, WMT, ...更多精彩文章及讨论，请光临枫下论坛 rolia.net

美国政府和联储局所作的不是为房地产问题买单。而是让它无声地死亡，不要影响其它的经济领域。

注资不是为了解决重贷，而是为其不要占用其他项目的融资。

可以弥补一些次级信贷的loss. 所以美联储这次尚未改变贷款利率...it is downplaying the crisis of credit, which maybe indicates credit issue is still in control for now!

only my opinion....... :-)

Avalon Partners的首席市場經濟師Peter Cardillo認為，全球央行向市場注入資金減低市場憂慮，令參與者放心，投資者這對長遠有利。股市可以轉移焦點，例如盈利和經濟數據，目前要看的是會否穩定。

Current market correction just take use of the subprime issue to knock it down, subprime issue has been there for a while, not something suddenly happen. Now the central banks are injecting money into the market, I don't think the Street will go against the Fed. The fears are generating good buying opportunities.