The worst of the news is getting priced into the market right now. There are issues over at Citigroup (C), and CEO Chuck Prince has stepped down. The street has been clamoring for his departure for some time, and this should please them. There are too many uncertainties in the credit markets to be buying the bank stocks yet, but there will be some deals to be had soon.
But the worries coming from the banks are giving us opportunities to buy companies that are doing well at cheaper prices. United Technologies (UTX), for example, is one that I'm looking at.
We'll see what the week brings.