The credit crunch has been accompanied by all sorts of doom-and-gloom pronouncements about Wall Street firms and IT spending. The consensus is that it is heading south in a dramatic way. The Tabb Group's estimate that the industry will cut nearly 20 percent has gotten lots of press. So why are some IT vendors so optimistic? Many are convinced that they represent the solution to the cost cutting imperative. People will be cut, but that only highlights the need for better technology.

Axioma CEO Sebastian Ceria tells Institutional Investor, "This is an ideal environment for new technology." That may sound overly optimistic, but that's how sales people see the world. Everything is an opportunity. The reality is that times like these really separate the wheat from the chaff. No doubt some winners will emerge, but we'll see some pain at the vendor level as well.

For more:
- here's the article [1]

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Stock market turmoil leads to tech confusion [2]