Wall Street's High Crime Area, Libor Scandal Expands, Confidence Crisis, and More

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

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