Draft statement from the EU summit on bank recapitalizations: The target date for banks to achieve a 9% capital ratio is June 30, 2012. "Banks should first use private sources of capital ... if necessary, national governments should provide support ... if this support is not available ... a loan from the EFSF.
You have to admire Cobra's market sense!
Thank for the hint of Cobra's short term model, I sold my short and bought long after hour and made some profit pre-market ...