RECENT POSTS
FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our "Question of the Day" right now.
FULL SHOWSMissed an episode of Fast Money? Watch the lastest show here.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
FAST MONEY PODCASTSDownload Fast Money onto your MP3 Player.
FAST MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
SHOP FOR FAST MONEY MERCHANDISEGet your game on with Fast Money gear.
FAST MONEY PHOTOS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up and receive a recap email every Friday after the show!
FAST MONEY MOBILE ALERTSGet advanced information about the next Fast Money.
Text Size 
 |
Banks are desperate to get out from under the onerous restrictions imposed by the government. And they’re willing to move mountains to do it!
This week JPMorgan [JPM
Loading...
()
] sold $5 billion of stock, Morgan Stanley [MS
Loading...
()
] $2.2 billion and American Express [AXP
Loading...
()
] $500 million after the Federal Reserve imposed capital-raising requirements on large banks hoping to repay bailout funds.
Although new issues are dilutive, most analysts agree the move is a step in the right direction.
Widely followed analyst Dick Bove says the secondaries are likely to be viewed very positively. Robert W. Baird analyst David George says the move should have minimal impact on capital ratios.
"We believe the competitive positioning of banks will be enhanced given the emancipation of the TARP restrictions including salary limits and potential politicizing of lending practices," George says.
And the secondaries are coming at a fast and furious pace.
Bank of America [BAC
Loading...
()
] said it has raised close to $33 billion, including $7 billion over six days, nearly all of the $33.9 billion that regulators demanded after a "stress test" of the bank's ability to handle a deep recession. The bank said it expects to "comfortably exceed" the $33.9 billion figure.
Of course note every analyst likes what they see. S&P analyst Matthew Albrecht is more skeptical. He tells Fast Money that although he's cautiously optimistic on the financials he also believes that all the capital raises may have saturated the market.
In other words Albrecht is concerned it could be tougher for regionals if they're still in need of capital.
Well, if trouble is looming it hasn't shown itself yet. Regional bank KeyCorp [KEY
Loading...
()
] said it has raised $1.3 billion, including $1 billion from selling stock, to help plug a $1.8 billion shortfall, while SunTrust Banks [STI
Loading...
()
] late Monday sold $1.4 billion of stock to help fill a $2.2 billion hole.
Next week banks learn which will be permitted to repay bailout funds. We’ll be watching.
- Halftime Report: Dubai - First Ripple Of Larger Crisis?
- Your First Move For Friday November 27th
- Web Extra: Private Equity, Conviction Buy?
- Pops & Drops: Abercrombie & Fitch, Nucor...
- Giving Thanks: Seymour
- Your Questions About... Alcoa & The Dollar
- Best Wishes Regis
- Gartman's Annual Rules For Trading
- Chartology: December Outlook
- Holiday Toy Trades
______________________________________________________
Got something to to say? Send us an e-mail at and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to .
Trader disclosure: On June 2nd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Seymour Owns (GA), (TTM), (AAPL), (FCX), (FXI), (EEM), (RIMM), (NOK), (MGM), (INFY), (FCX); Finerman's Firm And Finerman Own (BAC) Preferred Shares And Are Short (BAC); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman Owns (TBT); Finerman's Firm Owns (TBT), (RIG), (MRO); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO), (XRT)
Terranova Owns (FCX), (TER), (ABI), (XBI); Terranova Owns (POT) & (POT) Calls; Terranova Owns (JPM) & (JPM) Calls; Terranova Owns (BTU) & (BTU) Calls; Terranova Owns (RIMM) & (RIMM) Calls ; Terranova Owns (GENZ) & (GENZ) Calls; Terranova Owns (MS) & (MS) Calls; Terranova Owns (IBM) & (IBM) Calls; Terranova Is Short July Oil Futures; Terranova Is Short August Oil Futures; Terranova Is Short September Oil Futures; Terranova Owns December Oil Futures; Terranova Owns December 2010 Oil Futures; Terranova Is Short August Gold Futures; Terranova Is Short August Nat Gas Futures; Terranova Is Short July Nat Gas Futures; Terranova Owns December Nat Gas Futures; Terranova Owns (X) & (X) Calls; Terranova Owns (BRCM) & (BRCM) Calls; Terranova Owns (JOYG) & (JOYG) Calls; Terranova Owns (DIS) Call Spread
Charles Schawb Sponsors Fast Money
Data is a real-time snapshot *Data is delayed at least 15 minutes