Are financials funds worth the risk?

In the US, Bank of America saw shares fall 20% on 8 August alone, while Citigroup shares tumbled 16.4% and JPMorgan Chase & Co. fell 9.4%.   European stocks were also hit badly as fresh fears of eurozone contagion spooked markets. French bank Société Générale tumbled by as much as 23% on 10 August, while Credit Agricole and BNP Paribas fell 11.8% and 9.5% respectively.   With markets in turmoil, speculation we are heading for another global recession is mounting, and much like in 2008, banks look set to bear the brunt.   So is investing in specialist financials funds too risky or is it ac...