This is the first time I’ve listened to one of Jack Farley’s interviews and commentaries, so my readers will get a chance to hear this comment from Chris Whalen, who is one of my favorite banking analysts on the street, about what better happen on Monday:
To sum up, if the Fed doesn’t act quickly, this crisis will worsen. If the Dow opens down over 500 points on Monday, they probably will. If it begins an oversold rally, I think Chris is wrong and the Fed stays the course thinking that this is a situation that is contained. I suggest everyone watch this interview in full and understand that it’s not the end of the world; yet.