This is a very sensible article by Neil Hume at the FT.  He notes the extraordinary growth in bank stock prices since the infamous CitiBank memo in March, wherein he basically pronounced the worst as over, because he had removed the bad people, was instituting new processes, and working with Government. What struck me is this quote from an analyst at DB (emphasis added) On London: Banks’ rehabilitation could take time Add it all up, and the reason banks have rallied is investors are no longer worried about nationalisation and are prepared to look through two years of rising bad … Continue reading The power of positive thinking from Deutsche Bank