Nobody believes the banks: "Perhaps a bit of simple math that could fit on the back of an envelope, with no asterisks and no fine print, might win cheers instead of jeers from the market."

Well, almost nobody. Kudlow does, which is another sign of trouble ahead.

Comments

[Thomas]

"Once again, the investor class got shafted." - Kudlow

There's the rub. It's all about stock prices. Nothing to do with the reality of the banks' financial standing. Reinflate the bubble, please.