I gave up the vacation and returned to New York that very night.
Thursday, 7 May 2009
Stress Tests: Banks need over $74 BILLION!!!
10 of America's 19 largest banks failed stress tests and will need to raise a combined total of $74.6bn in new capital to cover "worst-case" losses. BoA will need $33.9bn (BoA has already absorbed $45bn in federal capital).
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