The recent collapse in worldwide bank stock prices can be explained not so much by potential defaults in the energy/commodity complex, as by investor recognit

The recent collapse in worldwide bank stock prices can be explained not so much by potential defaults in the energy/commodity complex, as by investor recognition that banks are now not only being more tightly regulated, but that future ROE’s will be much akin to a utility stock. Observe the collapse in bank stock prices ... Banking/finance seems to be either a screaming sector ready to be bought or a permanently damaged victim of write-offs, tighter regulation and significantly lower future margins. I’ll vote for the latter. I don't want to make one paragraph representative of an industry, but it matches some other things I've read: He's omitting the massive fraud and incomptence by that sector - on an historic scale - which caused the largest economic calamity in several generations, the Great Recession of 2008 (and they and we were saved from a much worse calamity by central bankers and tax-payers). Yet he seems to forget that minor detail and calls the financial sector a "victim" and blames the regulation that will prevent another catastrophe! It's as if the first catastrophe never happened. Perhaps that psychology, as much as anything, explains the financial sector's problems. You also see it when people in that industry complain about being 'demonized', as if they totally deny the reality for which they are criticized (and for which they've gotten off easy: bailed out by the taxpayers ad government, nobody in jail, few went out of business, and since then have returned to record profits while much of the economy stagnates).