I am so confused over U.S. banks at the moment.

On one hand, I see Ian Cumming of Leucadia buying banks that to me look like babies thrown out with the bath water.  They had nothing to do with sub-prime lending and hold no toxic mortgage paper.  Furthermore, at those same banks, insiders are buying.

In addition, I just read an article about Anthony Bolton, the famous UK investor with a 27-year 20.3% record, and he says it is time to switch out of commodities and into financials.

On the other hand, Eric Sprott seems to think things are getting worse with the banks.  The picture Sprott paints is so dire it makes you want to pull all your money out of the U.S. markets for a collapse might be near.

I would say all these guys are pretty smart and have fabulous track records.  This is why I'm confused!  I guess time will tell who's right.  And who knows, they might all turn out to be right depending on how bad the market drops and which banks survive.