Shares of Wells Fargo have hit a 52-week low today (as MarketFolly alerted us to earlier), and Bank of America hit a new low on Friday.
So, how come? Solvency risk or merely profitability risk?
That would seem to be a crucial question.
(We could have sworn that this question came up during the reason Treasury-meets-with-financial-bloggers roundtable, and that we saw Felix Salmon write about it, but can't find the account any longer on his site.)
Disclosure: No Positions