If you must buy a bank, look to the Great White North

Canadian banks are as solid as they come. They are a bit more expensive than their U.S. counterparts, but paying extra is worth avoiding subprime exposure. They have decent yields and great margins. This is also a good play on the strength of the Canadian dollar. Check out Toronto-Dominion Bank(TD), Bank of Nova Scotia(BNS), Bank of Montreal(BMO), Canadian Imperial Bank of Commerce(CM), and Royal Bank of Canada(RY).