Looks like C will increase its preferred conversion amounts after the stress test http://www.marketwatch.com/News/Story/Story.aspx?guid={A082CA8A-EF75-4439-BB38-6D0423DA891A}
banks are scrambling to sell their shares while the cat is mid bounce... but help me understand who is it exactly who wants to subscribe to these dilutive share offerings? ie who is going to buy the shit?
$74.6 Billion is pocket change at this point, thats why afterhours the banks are looking great again from the bulls point of view, whats billions when they have already spent trillions to prop up the entire economy. I have learned my lesson and that in the next crisis we experience that I will not have to worry since the printing press has all the power, printing money to prop up everything is the answer to all our problems. Now we can push this news aside and get ready for the rally of our lifetime and get ready for new highs on all indexes, HAHA, certainly is a goldilock economy now, thanks bernanke and friends. HAHA
Without Mark-to-Market; there wouldn't be any buyer; those shares could be sitting on Bank's book without changing hand, as long as price going up handled by market maker. I saw money market is tightening up and 10s yeild went up pretty fast.
It is kinda interesting to see the "Stress Test" results. Obama and his Socalist Agenda are clapping and say they are seeing signs of a recovery and that the Stress test proves that the banks are shoring up. Dig deeper and read between the lines, you come to a total different conclusion. What is interest also, based on the "Gov"s intervention in Auto, Banks, and soon much more, a risk usally only seen in Emerging Markets has become reality in the US. The Guardon UK, a shit rag but they did point out. "Political risk is becoming more of a U.S. issue as some investors howl over what they see as arbitrary intrusion by the government in business affairs." Im my world, the world of Private Equity, many of my clients are very concerned with OBAMA and his administration. This has been one of the biggest objections to over come in dealing with the Private Manufactures of this country. My clients, with net worths between 5 million and 100 million are all saying the same thing. "We want to stay liquid, pile our cash high and put it back into our business because we have no idea what this administration is going to do, tax law wise, Take Over wise, etc. When it comes to Energy, we tend to be one of the riskest ventures out there, far risker than any hedge fund. The risk of getting involved in Energy Play's does not bother these guys. It's the Administration and the current political climate.