This is a big positive as European banks need to raise capital when attractive opportunities exist. Deutsche Bank AG (DB) has tremendous earnings power but is one of the most heavily levered institutions so raising capital is the right thing to do. Europe did the right thing with the LTRO in ensuring ample liquidity in the financial markets but they have been waiting too long to work on a T.A.R.P. type program to build capital for the banks. There needs to be an insurance type clause where if the banks can't raise capital on their own, then the ECB, or the individual governments will step in at punitive costs. We know what the issues are in Europe and it is time for them to keep making progress in a positive and constructive way. If they resort to jawboning and trying to assign blame then they will create more turmoil that will only increase the ultimate costs of the crisis. The reason that I believe a constructive willingness to work out problems is so important is simply because the gravity of the problems is so great. There isn't a margin of safety and the sooner everyone realizes that and get's on the same page the better things will turn out.