Comfort Zone Investing: Time to Buy Banks?

Filed under: Citigroup Inc. (C), JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), Comfort Zone Investing, U.S. Bancorp (USB)

Banks were sick for a while. Some of them died (41 in the third quarter alone, a total of 127 so far this year), quickly taken over by the FDIC (Federal Deposit Insurance Corp.), transferring their ticket to ride to another institution that changed the name on the front door (but kept the FDIC sticker) over a weekend. More will evaporate. There are currently 860 on the FDIC's list of problem institutions as of September 30. That compares to 829 at the end of June. But the latest bank profits suggest the worst is over for the banking sector.

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Comfort Zone Investing: Time to Buy Banks? originally appeared on BloggingStocks on Sat, 27 Nov 2010 10:30:00 EST. Please see our terms for use of feeds.

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