Top banks go bargain hunting

CNBC notes that more top banks seem to be on the lookout for bargains. Lehman Brothers CFO Erin Callan suggests that the price plunge of many securities has been "driven by many technical factors, which may not reflect intrinsic value." Goldman Sachs CFO David Viniar says a lot of securities indeed are artificially depressed. Goldman has, in fact, formed several funds to buy up distressed securities. All this might strike you as a classic suckers' rally. But the Fed action may have put a floor underneath some of the really hard hit markets. It would not be surprising at all if people started building up larger long positions. This, of course, is a good sign.  

For more:
- here's the CNBC article

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