It was just released that the International Monetary Fund (IMF) just said that they are going to create a stabilization fund that they will look to use if the financial crisis continues and causes further instability in the European banking system. Despite the release, I still think investors should avoid Europe at all cost because we still havent seen the actual EU countries work together to address this problem; to me this seems as a "window dressing" announcement.
In looking at the recent banking and financial sector earnings results over the past 3 weeks, banking revenues and earnings are at a 4 year high...as I've said, I think the U.S. banks are extremely attractive and should be bought by anyone who has a 6+ month investment outlook. Even with all the financial calamity taking place in Europe, the U.S. banking system is stable, and improving at a good place and I am of the opinion that the most money to be made is in this sector (and as anyone who reads these posts can see I'm putting my money where my mouth is and buying bank stocks). Some of these stocks include Citigroup, Suntrust Financial, Etrade, Bank of America and Synovus.
