I own it and I like risk

Read more here.

Wall St. Key to Bank Rescue=: The Obama administration hopes to lure well-heeled investment managers to help end the banking crisis through a public-private partnership.
Click here to watch the video.

Soros Slams Market 'Fundamentalism':
Billionaire investor George Soros and other panelists at Columbia University slam the U.S. government for the financial crisis.

Click here to watch the video.

I am a big fan of the huge asset acquiring banks, says the Pit Boss. JP Morgan [JPM], Credit Suisse [CS], Deutsche Bank [DB] and Bank of America [BAC] are all attractive.

I’m more bullish on Deutsche Bank (DB), HSBC (HBC), and Barclay’s (BCS)says Tim Seymour. It doesn’t seem their write-downs will be that bad.

7.40%

China Watch: All Eyes on Goldman: Patrick Schultz says investors should be ready to pounce on the last bank standing once the chaos is over in the U.S. financial sector and explains how to play this theory. His pick: Goldman Sachs.

Click here to watch the video.

In the recent post below, Cramer asks if our savior will come from abroad.

“You read the dirty dozen. Now let me give you some hope:

Saviors from out of the country? BNP, Deutsche Bank (DB)? Toronto-Dominion (TD)? Bank of Nova Scotia (BNS)? Maybe ING (ING)?

I am completely focused on the financials as a place that a second-half rally can come from because, well, without them, we aren't going anywhere except down.

The financials are controlled by house price depreciation, which is getting worse but could bottom this quarter because of the vintage rollover, the decline in housing starts and the possibility of a federal housing bill, although the latter is such a tough nut because of the president's amazing laissez-faire "Rome is burning" attitude.

I mention those foreign banks because it's pretty obvious we don't have any American banks except USB (USB) that can make premium bids, and we have other banks that are so untrustworthy that they are afraid to merge with each other. The cracking of JPMorgan (JPM) after what I thought was a huge win from Bear has scared pretty much everyone in this country who can take the plunge from taking it.

Tuesday, after CIT's (CIT) recap, I discussed the notion of private equity playing a role. But we are seeing, incredibly, some foreign banks that didn't go subprime, and those really are the hope because the groupthink somehow eluded them.

We have to understand that until we get clarity on housing, we are going to be gripped by crisis no matter what, and in the vacuum of crisis caused by inflation in oil and food and the depreciation of housing, the only thing that's going to work is natural gas -- a really small universe.

The headwinds to banking are horrible. The destruction of the monolines will reveal another round of necessary reserves. The employment figures aren't going to help. The yield curve's not hospitable.

Takeovers are the only solution. Without those, after the oversold rally, we'll go right back down.

Period. Otherwise, more of yesterday's action, with a dash of commodity crash thrown in!”

They Just Don't Get UBS!
Marek Fuchs decries the business media's declaration that the market was strong because write-offs are over.

Click here to watch the video.