From the WSJ Banks Rush to Raise Capital:
"Wells Fargo andwere among the first banks on Thursday to rush to raise capital following preliminary statements by the Federal Reserve. Wells Fargo said it would offer $6 billion in stock, while Morgan Stanley said it intends to sell $2 billion.
And then to repay TARP funds:
Three Banks to Sell Stock to Repay TARP Funds - DealBook Blog - NYTimes.com:
"The decision to sell new stock to help buy back government’s preferred shares and warrants shows that just a few months after last fall’s credit-market meltdown, some banks are feeling increasingly confident of their ability to stand on their own.
Other banks, including JPMorgan Chase and Goldman Sachs, have already declared their intention to buy back the government’s stake as soon as possible.
Funds allocated under the Troubled Asset Relief Program were meant to stabilize the banking industry after last fall’s turmoil, but they came with strings attached. Banks in the program face limits on executive compensation, as well as increased scrutiny of their practices, both by lawmakers and the public."