'Fast Money' Recap: Bouncing Banks

Dylan Ratigan hosted CNBC's "Fast Money" Wednesday night. He started the show with a discussion on the opportunities and decisions to be made in the stock market right now.

Pete Najarian said he likes the Financial Select Sector SPDR(XLF Quote) because the financials will react positively to the bailout plan. Joe Terranova said he bought MasterCard(MA Quote) today because the company has a small debt profile, global exposure and long-term double digit profit growth.

Jeff Macke says he has no fundamental justification for owing the U.S. dollar. "The rest of the world is more screwed up than we are, but at least we know were screwed up," he added. Macke says the financials are a buy here because what the senators and Congress are really just voting on a suspension of reality.

Guy Adami mentioned that JPMorgan Chase(JPM Quote) hit a 52-week high today and U.S. Bancorp(USB Quote) traded higher. "The banking industry will survive, and the good banks like will do better, and the bad banks will be taken out back to the woodshed," he added. ...