Outlook is good for banks

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US banks have fallen victim to the media hype that is surrounding the credit crunch and decreasing the value of products, shares and so on. The first part of 2009 will be a decisive factor to the stablisation of the economy and not just in the US, but world wide as well.

Outlook is good for banks

The U.S. banking sector may be considerably stronger than what conventional wisdom suggests, and the decline in bank stock prices has been excessive as many of these stocks represent “excellent” values, according to veteran banking analyst Richard Bove.
U.S. government programs will work and the negative assumptions concerning the weakening of the economy may be excessive, the Ladenburg Thalmann analyst said in a report that reviewed the banking industry based on data from the Federal Deposit Insurance Corp for the third quarter of 2008.