Happy Anniversary Credit Crunch!
It's hard to believe that its about a year since the credit crunch began and we heard Cramer's rant about the Fed. Since the end of July 2007, the Dow is down 13%, the Euro is up against the dollar by 14%, and oil is up over 60%. Here's a look at who the biggest winners and losers are and how things have changed since then.
It's not surprising that the best performers in the S&P 500 were companies heavily involved with commodities. Massey Energy leads the pack up over 200%. Financials are the worst performers with MBIA taking the title of Biggest Loser (of those that survived -- let's not forget JP Morgan's baragin basement price for Bear Stearns)