Financials; Asset managers – across the board selling pressure

· Cards – somewhat of a relief rally in the cards after Whitehouse fails last night; V and MA in the green (although Whitehouse amendment doesn’t mean much for either); the credit-sensitive card companies (COF, AXP, DFS) are all in the red although outperform mildly the banks/brokers. 

· Brokers – across the board selling pressure; AMTD, SCHW, ETFC all off 4-6%.  MS, GS, JEF all down 4% as well.  CNS, RJF, GHL, LAZ, COWN all down 4-6%.  Across the board selling in the group. 

· Asset managers – across the board selling pressure 

· Life insurers – some of the weakest stocks in financials; a lot of worries about earnings given annuity exposure.  Also still worry w/the investment portfolio of some companies.  AFL, GNW, MET, HIG, PL, PRU are all off at least 6%. 

· Banks – weak across the board – BoA lags among the money-centers w/a 6% decline.  Within the regionals, CMA, FITB, BBT, ZION, MI, RF are down ~6-8%. 

· Weakest performing sp500 financials: MI, LNC, ETFC, SLM, GNW, HST, PFG, RF, CMA, HIG.  No sp500 financial stock closed in the green.