The outlook for bank stocks couldn't be any uglier. We're a lock for higher short-term interest rates when the Fed meets March 21, and a rate boost or two after that seems likely before summer. Rising short-term rates squeeze bank profit margins and, more important, dampen loan demand. That's why bank stocks have been crashing faster than your favorite ATM, shedding 40% of their value since interest rates started climbing rapidly more than a year ago.
Which is why you should start paying attention to this beleaguered industry. Because it's not really all that beleaguered. Banks long ago learned how to...
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