My sentiments exactly..but not only just bank stocks..

Bank of America's Bernstein Says Sell Bank Stocks After Rally
2009-03-23 19:20:51.810 GMT

By Eric Martin
March 23 (Bloomberg) -- Investors should sell bank stocks
after they rallied 12 percent today because the Treasury
Department's plan to buy toxic assets won't stop profits from
dropping, Bank of America Corp.'s Richard Bernstein said.
Removing devalued loans and securities from banks' balance
sheets is a short-term solution that will delay the problem's
ultimate solution, which is bank takeovers, Bernstein said. The
government won't be able to inflate the prices banks receive for
selling bad assets indefinitely, he added.
"The history of bubbles shows quite well that financial
sector consolidation is inevitable," Bernstein, Bank of
America's chief investment strategist, wrote in a research note.
"Financial stocks will be attractive when the government tries
to speed up that inevitable process. However, to the contrary,
the government continues to attempt to stymie that inevitable
consolidation."
The Standard & Poor's 500 Financials Index has climbed 51
percent since March 6 after Citigroup Inc., Bank of America
Corp. and JPMorgan Chase & Co. said they've become profitable.
The measure surged 12 percent as of 3:10 p.m. today in New York.
Bernstein compared the U.S. plan to Japan's response in the
1990s, when the government, faced with public opposition to its
bailouts of banks, waited before trying to fix its financial
system. That resulted in the "Lost Decade," in which economic
growth averaged less than 1 percent a year and the unemployment
rate more than doubled.
The Obama administration unveiled its plan to remove toxic
assets from the books of the nation's banks earlier, betting
that it can revive the U.S. financial system without resorting
to outright nationalization.
The plan is aimed at financing as much as $1 trillion in
purchases of illiquid real-estate assets, using $75 billion to
$100 billion of the Treasury's remaining bank-rescue funds. The
Public-Private Investment Program will also rely on Federal
Reserve financing and Federal Deposit Insurance Corp. debt
guarantees, the Treasury said in a statement in Washington.