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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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Stress Tests: Banks Need $75 Billion
Basil Karlo wrote:
"Too_Many_Tools" wrote in message ... 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. |
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