We won’t bother telling you about the proposed regulation that was just proposed by the White House today, nor will we bother telling you how bad that regulation will be for the bulge bracket brokerages and money center banks on huge volume losses earlier after the news broke this morning. Oddly enough, this may actually be a positive development for many of the regional banks who do not rely upon extensive trading gains, hedge fund operations, private equity dealings, and other ‘risk-based activities’ that are now being directly targeted even after most ha ve repaid their debt back to the government.
- Comerica Incorporated (NYSE: CMA) up 10% at $36.97
- Fifth Third Bancorp (NASDAQ: FITB) up 9.3% at $12.36
- SunTrust Banks, Inc. (NYSE: STI) up 8.7% at $25.46
- KeyCorp (NYSE: KEY) up 7.76% at $7.50
- Regions Financial Corp. (NYSE: RF) up 5.2% at $7.09
Price moves as of 2:00 PM EST
JON C. OGG
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