Why Bank Stocks Tanked

When clients ask why financials tumbled 11% yesterday, you need only refer them to Bank Profits Appear Out Of Thin Air.

"This is starting to feel like amateur hour for aspiring magicians," writes Andrew Ross Sorkin. "Another day, another attempt by a Wall Street bank to pull a bunny out of the hat, showing off an earnings report that it hopes will elicit oohs and aahs from the market."