All four of the major averages ended the week lower, but the Russell underperformed, falling 7.0%. The S&P was next in line, down 5.0%, followed by the Dow at -3.6% and the Nasdaq at -3.4%. Among sectors, Financials led the way, declining 12.1%. It wasn’t the only sector to see sizable declines, though, as Industrials lost 7.6%, Consumer Discretionary fell 7.3% and Energy decreased 6.8%. All ten sectors that make up the S&P 500 ended in negative territory this week. Profit taking for sure, the question is will it be the start of a prolonged downturn. More on that tomorrow evening. Enjoy the links.
Friedman, Geithner and the Goldman connection.
Prechter is looking for a deflationary collapse
Martin Feldstein says tax increases will kill the economy.
The 10 biggest tech failures of the last decade.
Goldman to pay back TARP.
Roubini and Rogoff bearish. ( video ) What a surprise.
The Biden’s and their hedge fund.
Don’t blame deregulation for the housing mess.
Xanax nation.
5 reasons the rally could fail, I have about 20 but this is a start.
Regulating the $600 trillion shadow market.
Boomers and retirement
Wall Streets rich get richer, especially Goldman.
AIG “forced” to pay Goldman 100 cents on the dollar. Oh what a surprise.
A hedge fund managers farewell
Insurers step up for their share
Umm, er,uh, uh,umm,uh says the third most powerful person in our country.
I will have much more tomorrow evening on the premium site including charts, and stock selections for the coming week.