Closer To The Bottom

Mark Konyn of RCM Asia Pacific characterized the situation as the ravages of a bear market.Basically the Bear Stearns sale was a bust.A lot of confidence has been lost.It feels like we're closer to the bottom of the crisis.It's the final phase of disclosure,an unwinding of the leverage.There is a move from illiquidity to insolvency problems,which parallels the situation in Japan in the 1990s.