Personally, I never touched bank stocks because they never seemed to move. For years, JP Morgan ( JPM ) hovered around $40, Wells Fargo ( WFC ) around $30, Bank of America ( BAC ) around $45 and Citigroup ( C ) around $45. It was one of the guarantees in life: death, taxes, and low volatility bank stocks. On November 15th of 2007, all of that changed for the worse. This new accounting rule tied bank balance sheets to illiquid mortgage securities. As a result the banks had to raise capital to cover the short term losses at a ridiculous pace; you know the rest. JP Morgan now resides around $25, Wells Fargo at $18, Bank of America at $7 and Citigroup at $3. On April 2nd, FASB will vote on the proposed alterations to this nightmare mark to market regulation. We have heard rumors of two new proposals. The first will change the requirements for actually taking a writedown and the second will allow companies to determine whether a particular market is active or inactive and they will be