Banks’ P/E’s are at a ridiculous extreme

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OVERDOING THINGS: OK, this is getting to be ludicrous. Regional banks’ earnings multiples have now fallen by so much during this latest round of banking-industry jitters that they’re back to where they were at the depths of the 2008 financial crisis, when there was substantial doubt that the U.S. financial system was even going to survive.

I mean, let’s get a grip, folks.