It's a neat trick. Analysts at Goldman Sachs this week announced that, in their professional opinion, large commercial banks were under-valued. They announced an upgrade of their assessment of several large banks and guess what? Share prices of those banks shot up. And so did Goldman's. Wells Fargo & Co., JPMorgan Chase & Co. and the biggest U.S. banks were raised from "neutral" to ?attractive? by Goldman Sachs Group, Inc. By their own admission, the share prices don?t reflect prospects for earnings growth but are simply, as one official put it, an acknowledgment that ?The market has failed to recognize the dramatic improvement in earning power at the large bank versus the regionals." If the market fails to recognize the earning power of large banks, well, Goldman will make sure that the market takes notice. Since Goldman issued its reassessment, those bank's shares bounced: shares in Wells Fargo and Co-merica Inc, Capital One and Bank of America all jumped. And Goldman?s own shares jumped 3.8%, to $186.47, a new 52-week high. At the very same time the company's on track to lead companies worldwide to the first profit increases in more than two years. The profits at the world?s biggest companies are projected to grow 63 percent in the final three months of 2009, snapping nine straight quarterly declines. Now, let's just wait and see if that happens for the rest of us. According to the Wall Street Journal, ?Goldman's own price targets and earnings estimates have been hiked by analysts at several other firms in recent weeks.? So banks like Wells Fargo, which ate up Wachovia last year for pennies, are now being highly valued by Wall Street?s gold standard, Goldman Sachs. And their advice to investors is to buy. To buy stock in the big banks, whose earnings they say will be even greater than they were in 2007. It?s a big turn around. From the brink to big profits and beyond. So much for all we've supposedly learned. Too big to fail is only likely to get bigger, faster. The F Word is a regular commentary by Laura Flanders the host of GRITtv which broadcasts weekdays on satellite TV (Dish Network Ch. 9415 Free Speech TV) on cable, public television and online at GRITtv.org and TheNation.com. Less