The Treasury Department is afraid of "creating winners and losers in the market" by publishing its list of banks receiving taxpayer-financed cash infusions.
Sorry, but it's a little too late for that. The market is awash with losers, so why not let investors know who the winners of the government lottery will be?
Let's just expedite the pain and get it all over with rather than feeding the bears by letting this drag on.
Technically, the Treasury is required to announce a deal within 48 hours. But the Feds are leaving that up to the banks themselves, and questions remain about when the clock will start ticking. Is it when the bank gets the nod from Treasury Secretary Henry Paulson or when the money is delivered weeks later?
Fortunately, many banks are already rushing out press releases to let the world know they've got new money coming in.
We've already heard from
Fifth Third Bancorp
Capital One Financial
TheStreet.com's full list is here:
All of those are gaining in the stock market today.So we've got our winners. Now let the betting begin on the losers.