"John R. Carroll" wrote in message
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"Buerste" wrote in message
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"-=DirtBagŠ" wrote in message
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Basil Karlo wrote:
"Too_Many_Tools" wrote in message
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On May 7, 4:41 pm, brk wrote:
Stress test results: Banks must raise $75 billion
By David Ellis, CNNMoney.com staff writer
May 7, 2009
Results of long-awaited bank stress tests reveal that 10 out of
19 banks tested need to raise new capital. Bank of America must
raise $33.9 billion.
NEW YORK (CNNMoney.com) -- Ten of the nation's 19 largest banks
will need to raise a total of $74.6 billion in capital, federal
officials announced Thursday, bringing an end to relentless
speculation about how much more money the nation's leading banks
would need to withstand the recession.
More than two months after launching the so-called "stress test"
program, leading regulators said that more than half of the banks
tested would require capital to absorb additional losses if the
economy weakens further.
Leading the list was Bank of America (BAC, Fortune 500), which
faces a $33.9 billion capital shortfall. Following behind was
Wells Fargo (WFC, Fortune 500) and struggling auto finance firm
GMAC, which will need to raise $13.7 billion and $11.5 billion
respectively.
Beleaguered banking giant Citigroup (C, Fortune 500), which has
taken hold of approximately $50 billion in government aid to
date, is being asked to raise $5 billion, regulators said.
Five regional lenders -- PNC, Regions Financial, SunTrust, Fifth
Third and KeyCorp will also be required to raise new capital. So
will Wall Street investment bank Morgan Stanley (MS, Fortune
500), which regulators said would require $1.8 billion to shore
up its capital position.
Just freaking amazing the damage that Barack O'bingbong caused.
TMT
Fixed your typo.
You have your head up your butt. 99% of this problem was Bush and the
policy's of his office.. The little Texas idiot is in hiding.. Need to
be arrested and hung right. Obamma is just fixing what Bush's term
fu*ked up.
Bush sure did screw-up by letting the Democrats destroy Freddie and Fanny
by mandating loans to people that had no hope of paying them back.
CRA loans have the lowest default rate of any mortgages Tom.
I guess you really are just stupid after all.
http://traigerlaw.com/publications/T...ty_1-26-09.pdf
Bush also screwed-up by letting these loans get turned into derivatives
with an "AAA" rating.
That is indeed the case. Failing to enforce regulations is something that
is squarely on the doorstep of the Executive branch.
JC
Buerste recently posted:
"I wonder if we would be better off if Germany had won. Hitler and that
philosophy would have passed quickly and good sense would have prevailed and
led the world into peace and prosperity.
....sure beats the socialism we're heading into. "
http://groups.google.com/group/rec.c...84446da8a6e484