Some Financials Surging Post-Obama Proprietary Trading Speech (FITB, KRE, STI, BBT, More...)

On news of new regulation for big banks and their "fat cat" bankers, not everyone in the financial services industry is taking one square on the chin as Obama is taking a skewed venture into Glass-Steagall territory.

The act would have banks unable to use proprietary trading to trade for their own accounts, effectively diminishing the profits that they are now currently enjoying post-financial mess of 2008.

“I’m a little concerned that this however is less about financial reform and more about the politics of the day and an attempt to get a populist message going and use the banks as a whipping boy which I don’t think is constructive,” said Judd Gregg, a Republican member of the Senate banking committee.

Banks that aren't relying on any sort of proprietary trading systems are faring much better today, along with their ETF. Benefiting today are:

• Fifth Third Bancorp (NASDAQ: FITB) up 9.64% to $12.39;
  
  
• Sun Trust Banks, Inc. (NYSE: STI) up 10.20% to $25.81;
  
  
• BB&T Corp. (NYSE: BBT) up 3.93% to $1.13;
  
  
• Huntington Bancshares (NASDAQ: HBAN) up 8.16% to $4.64;
  
  
• Dearborn Bancorp (NASDAQ: DEAR) up 4.48% to $2.10;
  
  
  
• SPDR KBW Regional Banking (NYSE: KRE) up 2.77% to $24.85; and
  
  
• SPDR KBW Bank (NYSE: KBE) up 1.01% to $23.95.

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