The Worst Of The Credit Crunch is Over?

It’s 5:30pm ET, on Monday May 26 and I’m in Toronto having just finished a one day live planning session with clients and I’ll have to work at staying awake until 9pm before I go to sleep because I am still on Pacific Time having gotten up too early on Sunday to catch an early flight and I want to get a solid sleep in advance of tomorrow’s speaking presentation.

It feels kind of unusual that I am finished with coaching calls and all I have to do on Tuesday and Wednesday is present two speaking presentations as the norm is doing one on one telephone coaching calls along with the speaking presentations.

I’m investing the evening and putting the finishing touches on my PowerPoint on How To Thrive In A Recession and I have to wonder (with a grain of salt) if I chose the correct title when I had to make the decision back a few months ago and this is spurred on by reading the following in today’s Globe & Mail;

ROME — Breathe in. Breathe out. You can relax now.

The worst of the credit crunch, and the liquidity crisis it spawned, is over, we are told. It’s getting slightly easier to borrow money.

True, the banks are still taking writedowns, but the pace is slowing.

Banks and insurers are replenishing their capital at a furious pace, as AIG did this week, when it raised a cool $20-billion (U.S.) rather than the $12.5-billion it had announced earlier. No other big securities firm seems on the verge of Bear Stearns status – that is, toast.

The complete article is entitled Liquidity Crisis – Hedge Funds: the credit crunch’s enigma by Eric Reguly.