Boy, this kind of reporting gets old (negative news AGAIN) but I do NOT find it being reported enough by the general business media (CNBC, Fox Business News). The people they bring on, in general, have views/opinions are TOO optimistic and keep luring people into leaving their $$$ in the stock market right now.
1) Apparently there is a TON more pain that is going to hit European banks here soon as Eastern Europe pains negatively impacts their banks. Most North American/Japanese banks aren't big players in these countries.
2) John Mauldin, president of Millennium Wave Advisors, thinks the markets will hit a new low this summer, and then potentially flip/flop a bunch for years to follow. I agree with his thoughts re: "another leg down" as I think the markets should be trading around 665-680 based on multiples to forecasted S&P500 EPS and historical pricing behavior during bear markets. If this happens, can you imagine the impact to 401k plans, pension funds (that will be SUBSTANTIALLY underfunded), etc.
Hope everyone finds this info. valuable.