This comes on the heels of JP Morgan's issuance of an 8% preferred now selling at a discount.

FORBES: Magazine Article

Goldman Sachs , Morgan Stanley, BofA Merrill Lynch and JP Morgan Chase were joint lead managers and 8 other investment banks were co-managers.

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Morgan Stanley fell 6.6%, Citigroup 3.8%, Bank of America 3.6% and JP Morgan 2.5%.

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Small businesses seem to be struggling and some deflationary indications have emerged from the report, with the net percent of firms rising average selling prices falling to 7% from 10%, hitting its lowest level since February. (Read JP Morgan Economist: QE3 Only If We See Deflation, Equities Will Finish 2011 Up 8% To 10%).

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