Sector Exchange: Reality Check Time

Published: March 03, 2008 | 2:46 PM

Wall Street and Washington need to take dramatic steps to shock the economy and limit losses to billions vs. trillions as the markets continue to unravel. The Federal Reserve has still not come to grips with the stark reality of the economic crisis and no improvement is expected until the housing markets stabilize, the banking system builds liquidity, the credit crisis is solved and investors realize the truth is quite a bit worse than anyone wants to admit, according to Jim Farrish, in his weekly Sector Exchange pod cast.