With stress tests passed, with the restrictions in Congress being watered down and with capital abundant, our banks are the ones who can take advantage of the near collapse of the European banking system.
That's OK, the marketplace will, in the end, overwhelm the small thinkers in Washington, allowing us to have cleaner, cheaper American fuel. Memo to Washington: this is a Bob Dylan situation, meaning come Senators and Congressmen please heed the call, don't stand in the doorway don't block the hall, because, indeed, the times they are a changin'. Finally, aerospace. Here's an industry that we seem to have ceded to the Europeans for a moment in time as Boeing ( BA) got stalled with engineering problems for the new 787 Dreamliner. Now Airbus has its production woes and Boeing's back. We will all see that come the Paris Airshow in July. It's, as I like to say, a USA moment. We're just so gloomy we don't know it. Or at least the sellers and sidelined people don't know it. That will change over time. Consider yourself still early if you agree.