Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

WFC 87.12

-0.3%

Nov 4 3:59 PM EST

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To: tejek who wrote (1227)	11/8/2010 6:59:08 PM
From: Hawkmoon	Read Replies (1) of 1428

It depends on what interest rate they get for that offering (not yet disclosed). If they use the proceeds to pay off higher bearing interest notes, it's long-term positive to their bottom line. And apparently the "capped call" aspect of the offering was intended to prevent dilution. What is more striking is ABK declaring bankruptcy tonight. Not totally unexpected, and I'm glad I got out last week with the 50% haircut that I did. ABK has been nothing but a "house of pain" for it's investors for the past 3 years. The ultimate in "falling knives". Hawk

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