The financial sector has an ETF that tracks the sector ($XLF) and it had a whopping 15.7% gain today. In fact, today’s gains in the ETF are the largest ever for the 10 year existence of the XLF. Three of the largest holdings are Bank of America ($BAC), JP Morgan ($JPM) and Wells Fargo ($WFC).
Where’s The Line?
Today we saw the market react to a plan that the government will help unfreeze the lending process in America and elsewhere. Basically, the government would open shop as a “bad bank” that takes over all the toxic assets of banks. Such action would allow the banks to go on about their normal business, which