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Pros Say: Prepare for More Bank Nationalization

CNBC.com
Tuesday, 17 Feb 2009 | 9:11 AM ET

A year ago UK lending facility Northern Rock was nationalized by the government. Since then, there has been the nationalization and saving of many more financial institutions worldwide.

On Tuesday, global stocks were dragged lower by banks as investors feared the financial crisis is far from over. Experts tell CNBC to expect more bad news out of the banking sector.

Banks Heading Towards Nationalization

Banks are heading towards nationalization, says Kirby Daley, senior strategist at Newedge Group. He tells CNBC that it will be a while before banks lend again.

Upbeat on Asian Financials

Wong Sui Jau, GM of fundsupermart.com favors Asian financials as they are fundamentally stronger than their U.S. peers but their valuations have fallen in tandem with the latter's decline.

Funds Still Attracting New Money

Chris Kundro, co-chief executive officer LaCrosse Global Fund Services, says certain funds are attracting new money despite the challenges facing the hedge fund industry as a result of the financial crisis.

Protect Against Dollar Devaluation

Kirby Daley, senior strategist at Newedge Group believes one should invest in hard assets such as gold, to protect against the eventual devaluation of the U.S. dollar.

Give China a Break

It's time for the rest of the world to give China a break, and appreciate what the nation has done with its currency, says Clifford Bennett, chief economist at Kinetic Securities. He speaks to CNBC about the accusations China has faced of being a "currency manipulator."

Russia Unlikely to Pose Systemic Risk

Fears of systemic risk posed by a large-scale default by Russia is overdone, believes Stefan Hofer, emerging markets strategist at Julius Baer. He offers his insight into Russia.

Let Some UK Banks Die

Some of the UK’s more troubled banks should be allowed to die off

, Ralph Silva from TowerGroup told CNBC. Alistair Milne from Cass Business School and Jon Moulton from Alchemy Partners joined the discussion.

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