"Borrowing short, lending long is more riskier than mining...

"Borrowing short, lending long is more riskier than mining companies with typical PE's of 8. "

But isn't that what banks do? I have never seen them trade on such low PEs.

Perhaps cat will be out of the bag if Fed comments on "credit crunch" easing, or perhaps a further sell-off if there is disappointment on interest rates. Not sure whether to jump in yet but may do if I can get a big discount from panicky traders late in the day.