RE: WHAT CAUSED A 40% DROP IN BANKS 1998Not sure if anyone has answered this yet. But what I believe happened was nothing more than the manic nature of the market. This is about the time the bank mergers were to happen. When the federal goverment announce that this was not going to happen the banks all got hit. They were over bought at the time and then quickly became oversold. This created a great buying opportunity. RY finished the year down 12%, but the following year RY was up 60% based on the valuations in the stock. I believe this to be much the same opportunity as back in 1998. Yes CIBC owns much of this ABP and has the most exposure to the problem in the US, however RY does not as well as the others. Good time to BUY IMHO.