And now the market is excited over these companies printing stock certificates:
"09:45 am : Stocks open on a high note, with each of the major indices posting a gain of at least 1%. Headlines this morning were seemingly negative.
UBS (UBS) announced $19 billion in write-downs--bringing its total write-down to $33 billion. It also is seeking shareholder approval to raise roughly $15.1 billion in fresh capital. Meanwhile, Deutsche Bank (DB) announced a write-down of $3.9 billion. Lastly, Lehman Brothers (LEH) is raising $4 billion in a preferred stock offering to shore up its capital position.
These stocks are actually trading higher on the news, which in turn, is lifting the financial sector to a strong 4.1% gain. Traders are betting that the worst of the subprime mess may now be over, and were pleased to hear that the Lehman Brothers offering had higher than expected demand."