Mortgage meltdown providing opportunities

Ask the CEOs at premiere banks what they think about the on-going subprime implosion and they will all say that they see opportunity. It comes off like a cliché, but it's right on. Let's face it, as a Morningstar analyst notes, it would be easy to throw the baby out with the bath water. The likes of Bank of America, Countrywide and Washington Mutual, by one opinion, are positioned to weather the storms and even thrive. One could argue that the turmoil is really the only way for a bubble to end. Once the froth gets blown off, you have to think that the subprime industry will recover--perhaps it will be smaller but much stronger. As for the premier firms that really created the boom, we'll have to see. There is still a chance we'll see some fallout in the next earnings go-round.  

For more:
- here' the Morningstar article