What do they say about never buying into a lawsuit?
There's so much potential liability now throughout the whole sector over the Libor affair, and it will drag on for years or even decades. Given the fundamental nature of the banking business, how on earth can any investor have any faith in reported levels of contingency funding?
It's a bit like the incurable gambler knowing that the rainy-day fund is hidden in the cocoa tin.
I agree with 4spiel - if you have, hold and hope; otherwise leave bank shares to the traders. I don't believe this is a currently a sector that the private investor has a hope of handicapping successfully.