The Market is punishing the banks and all financials unless they are not in the sub-prime mess.
Two stocks that I feel worth watching and buying when you are ready to pull the trigger.
This is the time to pick up bargains.
Think about it. You can put your money in a bank and get 4% for a CD. It's safe and secure until it goes bankrupt.
The government will secure up to $100,000.
Well there is an ETF out there that has about 20 regiional banks in it and yields about 12%.
That ETF is KRE and sells around the $32.00 mark. Buy it and it's like putting your money in the bank. There is no guaranttee but 20 banks are not going to go bankrupt. This is a long term buy and hold. While you hold you will collect 12% plus the chance for appreciation.

Another specific bank is Wachocvia (WB) where you get a 7.5% yield and a great bank giving you 7.5%.

Buy the above 2 and you will make money when it starts to go up along with 12% dividend.