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Hmm... I think the banking sector has improved as of late, no? Fed is done with cutting the rates and it is not working. Hence, it now resolves in using its power to give short-term loans to the bank. This gives them a breathing room. Yes, housing will be bad for quite a while. This is the big question mark. How low will price fall this year? If price only falls modestly, then most banks has already written that off.
Of course shares like C has risen from its low of the $ 18s. I personally haven't bought C but have a gut feeling that now it is the time to buy this banks before they go back up. I would say, buy on weakness.
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