Banking industry future still cloudy

So is the worst really over? We've been hearing as much from lots of executives as of late. But not everyone is buying it. Case in point: Former Fed official Vincent Reinhart says banks face an additional $650 billion plus in writedowns and losses. That's on top of the $350 billion already suffered. So we may see yet another round of intense fund-raising. The question is, who will invest? Likely, banks will have to offer even better preferred terms, if that's even possible. As the second quarter closes, we're definitely seeing a kind of cover-your-bases tone to analysts' comments. But are we going to see another Bear Stearns-like implosion? Hopefully we're past that. But a few downside surprises wouldn't be all that, well, surprising.

For more:
- here's a New York Post article

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