Citing a sudden turn around in the S&P Bank Index and surges in some bank stocks, CNNMoney.com editor Paul La Monica is asking if our nations banks have finally hit bottom. Chase, Wells Fargo, Bank of America, and Citigroup have all had double digit growth this week. But as La Monica makes clear in his article one week isn’t enough to create much confidence after the past 6 to 8 months that have decimated the banking industry. As investment advisor Marc Groz in La Monica’s articles says “The bottom is zero”. However, not all banks are equal. Some of the investors who have run from the banking sector like the plague may now be ready to take a close look at individual banks in hopes of getting in on the ground floor of the recovery. The article cites examples of investors who are looking outside the ‘big boys’ to find those gems with solid balance sheets. But there are huge differences between the banks who keep getting mentioned in the news as well. Time has a great article that looks deeper into Citigroup, JPMorgan Chase, Bank of America, and Wells Fargo to find out what the future may hold for these behemoths. Despite the bailout, not all of these characters will still be on the stage in a couple of years, but those that survive may come back stronger than ever – kind of a financial Darwinism. Whether you’re an investor or you just have some savings in one of these institutions I recommend you check out both of these articles.

This entry was posted on Thursday, February 26th, 2009 at 1:44 pm and is filed under Financial News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.