Banking Is Tanking Worse Than Ever

 |  Includes: BAC, C
by: TickerSense

Bank stocks are currently in a decline worse than any in their history; including the Great Depression. As shown below, as of 1/21/09 the KBW Bank Index had declined 78.5% from its 2007 peak; in the 1930s the New York City Bank Index declined 78.1% in the same time period. On the bright side the bank index bottomed and doesn't have much farther to fall given the historical comparison, but also as shown, those stocks did not do anything for a long time afterwards. This analysis was also featured by CNBC's Patti Domm; click here for her thoughts as well.