"They'll say they didn't apply, and technically they'll be telling the truth, but you and I will know it's that their regulator told them they didn't have a chance," Brown says.
That could be a big surprise to investors, who seem to be reacting positively on news a struggling bank is applying. Colonial Bancgroup (CNB Quote), for example, saw its stock shoot up from $1.41 to $1.83 per share Thursday morning after it said it was applying for government funds. That was before a broad market rally took over in the afternoon, lifting the bank's shares to $2.52 at Thursday's close.- Loading Comments...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,197.47 | 1,087.24 | 2,149.02 | 34.46 |
Oil *
76.15
|
|
DOWN
93.79
|
DOWN
11.27
|
DOWN
17.88
|
DOWN
0.28
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10 Yr
3.45%
SPDR Gold
108.21
|
|
-0.91%
|
-1.03%
|
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|
-0.81%
|
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