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: Hawkmoon who wrote (1229)	11/11/2010 12:39:33 PM
From: tejek	of 1428

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. Yes, long term, they will benefit. Short term not so much. That's why I keep them on my watch list and wait patiently. 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". Yup. Glad to hear you took your losses last week and did not wait til BK was announced.

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