Finance Stocks to Buy Now
It has been a rough few months for America's vaunted financial institutions, which are under siege. As the mortgage debacle has spread, banks and Wall Street investment houses have seen their stocks crash after they disclosed billions of dollars in losses, and the chief executives at Citigroup (C) and Merrill Lynch (MER) have stepped down. Many experts predict more pain ahead. On Nov. 19, analyst William Tanona of Goldman Sachs said that Citi may have to take writedowns totaling $15 billion over the next two quarters, while he also lowered his price targets on seven financial stocks. There may even be more CEOs who find themselves out on the street (BusinessWeek.com, 11/14/07).
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