Naughty Banks

With regards to the creation of a 'bad bank', people are starting to question the effectiveness of this dumb idea, the undue burden it will place on all taxpayers for generations to come, the decision making abilities of our govt, etc. It actually took the likes of Soros, Whitney, and most notably, myself, to bring some realistic expectations to this horrendous idea.

In case there is any confusion, the asininity of the notion of creating said 'bad bank' is the worst idea ever thought of, ever. And somebody should be physically punished for mentioning it outloud.

Given the uncertaintly of this inevitable debacle, the wise thing to do would be to not trade/speculate on this sector (XLF) at all. On the other hand, it does remain overbought and thus it continues to be, all else equal, a great short candidate in the near term (1-15 days).