Mr. Market has been very nervous about banks' exposures to the whole subprime near-implosion all year. This was clear from the earnings of JPMorgan Chase (AP). It thoroughly whipped analysts' estimates--something we've become accustomed to with the premiere banks. But Mr. Market was unimpressed. Indeed, people seized on the tripling of its loan loss provisions, to $1.53 billion in the second quarter. The provision for its investment banking unit rose to $164 million, compared with $62 million last year, a reflection of the subprime mess. The retail credit loss provision rose to $587 million from $100 million. You've got to think that other banks are similarly preparing for what could be a lot of bad news, at the non-retail level. One analyst, the esteemed Richard Bove, has gone so far as to tell clients to sell the top five banks (MarketWatch).