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May 18, 2009

Maneuvers that can mask banks' troubles

  • Investors should remember that even an arm's length transaction might wind up just moving money from one pocket to another.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — Leave it to Wall Street to figure out a way to win big from a government-mandated rush by banks to raise capital.

    Some financial companies including Morgan Stanley and Wells Fargo & Co. are using their own in-house bankers to advise them on large public stock offerings that are being done to bolster weak balance sheets following the conclusion of “stress tests” that regulators did on them earlier this month.


     
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