Reminds me of kids' soccer...

...when everyone furiously chases the same ball:

Bank Stocks Leap, Dow Surges 3.1%
The Dow industrials jumped 246 points and the S&P 500 rose 3.8% as bank stocks roared higher on Wells Fargo's pre-announcement.

Holy moly. On Monday we had Mayo bumming everyone out, and today we have Wells making everyone giddy and all tingly. Group-think at its finest. This is what got us into this mess in the first place, for crying out loud. Banks are only making 'profits' cuz the Feds are giving them money left and right (see those Agency purchases, eg) and cuz they're screwing the very taxpayers whose money they're taking (see previous post). Neither 'profit' center is sustainable

Again, shades of Spring 2008 I'm afraid.....