This Bud's for InBev - Fast Money Recap (6/11/08)

Recap of CNBC's Fast Money, Wednesday June 11.


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Financial Mess: Goldman Sachs (GS), Financial SPDR (XLF)

A rise in oil prices, a fall in tech and in financials and talk of inflation brought the Dow down by triple digits. Lehman Brothers has dropped a total of 28% in four straight days, and an analyst from Merrill Lynch retracted the “buy” rating he made last week. Jeff Macke respected the retraction and the analyst’s fortitude to admit he made a bad call. The retraction caused Karen Finerman to suspect some problems at Merrill. Guy Adami agrees that rumors of writedowns at Goldman Sachs are unlikely to be true, and comments GS is best of breed. Najarian discussed put buying in XLF and says the pipeline in financials is broken.