The Libor scandal continues to spread, with more banks and regulators being placed under the microscope for their involvement in rate rigging. Meanwhile, Wall Street's image continues to take a pounding while UBS Americas' chairman strikes out on his own.
July 20, 2012
2. Crisis in Confidence
The bigger problem, which I think investors are focusing on, is confidence in the financial system is eroding. There have been a litany of failures and confidence-reducing events recently which should cause anyone with a stock certificate and a heartbeat to think hard about what to do with their stocks.
— Larry Jeddeloh, founder and chief investment officer of the TIS Group, a money manager and institutional research firm
Source: MSNBC: Banks' Bad Behavior May Be Scaring Away Investors
