Open Thread

For general discussion and debate. Possible talking point: Is the financial crisis over?

Fannie Mae and Freddie Mac shares had their best day in more than two decades on Wednesday after Wells Fargo's (WFC.N: Quote, Profile, Research) strong earnings spread relief across Wall Street, even as a plan to prop up the two mortgage finance titans met resistance from congressional Republicans. The two pillars of the U.S. housing market also benefited from remarks by Federal Reserve Chairman Ben Bernanke that they are "in no danger of failing."

There was an explosion yesterday after the Wells announcement carrying all financial stocks higher, and the DJIA up over 275 points. JP Morgan just announced MUCH better than expected earnings and revenues. Is the financial crisis over?

This question doesn't suggest that there are no banks or lenders still in trouble, but, instead, that the hysteria which has swept through Main Street and Wall Street the past few months was WAY overblown, and that sanity is returning after a long holiday.