Most of the ones that will go bankrupt already went bankrupt. And who are the ones that lost a ton of money on those? The people that invested when it seemed the banks were doing great. The time when they thought there was no risk of a bank going bankrupt. Citigroup's stock is under $4 right now, less than 2 years ago it was above $50. I dont know about you but I'd much rather run the risk of buying a stock that goes from $4 to $0 that had a chance to go up and give me a 300-400% return than have a stock that goes from $50 to $4 that only had a chance to give me a 10-20% return.
I'm not saying I would invest in citigroup as I think there are better investments out there right now and its unclear how much control the government will have on them. But the people that are going for broke on the stock market are not the people who are investing now but those that invested in the so called "low risk" times.
Also as for Wells Fargo it is one of the least likely banks to go under and there is a reason why it's stock price is still hovering just below $20 as opposed to under $4. The bank industry will never go away and when things start to swing back up Wells Fargo will go from a regional player to one of the national players and fill a lot of the void left behind by the other banks.
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