Financial's Getting Punished

"the KBW Bank Index extended its three-day decline to as much as 7.5 percent earlier Wednesday - the fifth time this year a loss has exceeded 5 percent over such a stretch, data compiled by Bloomberg show. At times this week, losses from Bank of America Corp. to Citigroup Inc. have exceeded 10 percent.  Daily drubbings in financials are rapidly supplanting anxiety over oil and its related shares as the equity market's biggest headache. At 15.7 percent of the Standard & Poor's 500, banks, brokerages and insurance companies are second only to technology companies as the biggest group and more than twice the size of energy producers."

If anyone "thinks" energy is a problem, with lower rates, credit concerns, a flatter yield curve, and un advertised systemic liquidity issues, there is a reason financials are getting punished.  IMHO, I would stay just as far away from US banks as Euro banks, don't care how much of a bargain it seems like.