This is a seekingalpha.com article.
Shares of Bank of America (NYSE:BAC) – along with virtually every other financial in the world – have tanked over the past several weeks as panic has set in across the globe. There are many reasons for investors to worry but for the banks in particular, the fear of recession coupled with extraordinary uncertainty over the future of rates in the US has created an especially toxic environment. In short, banks are being sold indiscriminately and that certainly includes BAC. And as BAC is correctly considered the mega bank with the highest leverage to interest rates, it has received a special level of punishment. But as I’m not one to panic (usually), I prefer to take the longer view to spot potential bargains.
Piggybankblog Courtroom Bailiff: “All rise! .The Honorable Judge John Wright has left the Courtroom of Public Opinion!”