Crisis Ripple Effects: Pros Speak
'We Need Better Financing'
“For small businesses, for consumers, for the housing market, it’s not as bad as it appears on Wall Street right now, but still we need better financing, because the economy is actually positioned for a cyclical rebound. If you look at the housing starts number, it’s very low, but it should bounce. If you look at vehicle sales, they’re very low, but they should bounce also. Same thing with inventories, but you need to finance a cyclical rebound.
David Kelly, JPMorgan Funds
'Fundamental Shift in Values'
“The stock market continues, and investors continue, to want to believe that what they’ve seen in the past over the last 20 years is what they’re going to see in the future. It isn’t so…Take the bond market, we’ve got a fundamental shift in values there, we’ve got a fundamental shift in the equity values. I think we’re headed down a ways before we bumble on.”
Don Putnam, Grail Partners Managing Partner
AIG 'Not a Huge Help'
“The AIG issue may help a little bit, because it reduces uncertainty, but it’s not going to be a huge help.”
Mohamed El-Erian, Pimco Co-CIO & Co-CEO
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