Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM), Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), Wells Fargo (NYSE:WFC) Crushed on Irish Bailout

The announced bailout of Ireland has the overall banking sector getting hammered, and giant bankers like Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM), Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) and Wells Fargo (NYSE:WFC) share prices are all trading down today.

Bankers listed in the Dow have also pushed it down, falling by over 2 percent so far.

The bailout of Ireland has reminded investors the fragility of the European Union's sovereign debt crisis, which also was made worse by the announcement by Greece their deficit may be worse than believed, suggesting more cover up and uncertainty there.

It seems the EU has been deliberately understating the problem in order to battle against contagion, or they're incompetent; probably a lot of both.

New mortgage problems related to U.S. banks has also emerged, making the industry come under even more pressure.

Citigroup was trading at $4.175, falling $0.0930, or 2.18 percent at 1:11 PM EST. Bank of America was at $11.31, losing $0.35, or 3.00 percent. JPMorgan was at $38.38, dropping by $1.03, or 2.63 percent. Goldman lost a huge $6.92, trading at $159.75, falling 4.15 percent. Wells Fargo was at $26.95, decreasing by $0.54, or 1.96 percent.