He added that "the company's tangible book value would be an estimated $3 per share higher without Countrywide." With Bank of America's shares trading at such a heavy discount to book value, and for just over five times the consensus 2012 earnings estimate of 97 cents a share, among analysts polled by FactSet, it isn't surprising that there are still 10 analysts rating the shares a buy. Meanwhile 13 analysts have neutral ratings and one lonely analyst still thinks investors should move on. Interested in more on Bank of America? See TheStreet Ratings' report card for this stock. The second-worst performer among the largest U.S. banks was Goldman Sachs ( GS) wish shares closing Friday at $90.43, for a year-to-date decline of 46%. The company faces major uncertainty in 2012, with the Federal Reserve still not settled on its ultimate enhanced capital requirements for banks, and the Volcker Rule still in play. The comment period following the Fed's confusing 300-page proposal to implement the Volcker Rule's ban on "proprietary trading" by banks -- as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law by President Obama last July -- has been extended to February 13. Atlantic Equities analyst Richard Staite on Dec. 15 cut his fourth-quarter earnings estimate for Goldman by 60% to 90 cents, "driven by lower revenue across all business against a relatively fixed cost base." The analyst has a neutral rating on the shares, and estimates the company will achieve a decent return on tangible equity of 9.4% in 2012, "on the assumption that revenues improve in both Investment banking and in the Investing and Lending division." Staite also said that Goldman "has the potential to increase market share as competitors, particularly European banks, drop out," although "near term trading revenue is likely to be subdued," and could decline "due to new regulations." The analyst estimates that Goldman will earn $11.15 a share in 2012. Goldman's shares trade for just 0.7 times their Sept. 30 tangible book value of $124.90, according to SNL and seven times the consensus 2012 EPS estimate of $12.74, among analysts polled by FactSet.