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Utah analyst says cure must come to Wall Street soon

Utah analyst says cure must come to Wall Street soon



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(AP Photo/Richard Drew)

Following a day when the Dow ended with a 500-point loss and the S&P 500 hit a five-year low, A Utah analyst is comparing worry on Wall Street to a disease.

Sterling Jenson of Wells Capitol Management says he's heard it like this: Imagine being in a room with 100 people and being told that one of those people has a deadly, contagious disease. You wouldn't dare touch anyone.

Jenson says it's the same right now with lenders and credit. "Credit is the lifeblood of the economy. If the blood flow is shut off, you're going to start to have the ends of the fingers and the toes start to die," he said.

Jenson, though, says policy makers are taking all the steps they can to undo the log jam. He has faith that will happen, but he says it's something that needs to be done within weeks, not months.

E-mail: mgiauque@ksl.com

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Marc Giauque

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