About 10 Banks May Need More $ After Gov Stress Test
The number of banks that will need more capital has grown. Now it looks more like 10 banks that underwent the government stress-tests are undercapitalized, possibly among them Wells Fargo, Bank of America, Citigroup and some regional banks, reports WSJ. The good news seems to be that the problems the stress tests are revealing aren't as bad as analysts had been saying. Clearing out some of that fear contributed to Monday market gains and the S&P 500 entered positive territory for the year for the first time in months.
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I heard these stress test results came out even worse than we have been told and that once again we are being lied to. Google it.
Warren Buffets speech and traders covering their shorts made the market move.
Why sink more money into mismanaged banks? At the very least kick out the management before adding more money. Better yet, chapter 7 (no I didn't mean 11).
Seriously. Can't We the taxpayers, take over management of these banks now? We can't do any worse than they have.
I certainly wouldn't manage the bank like a slot machine - like we are now. Just keep pouring money in - but nothing comes out - no new credit, or loans - just more Bonuses and excessive management pay.
We need to stop feeding the corruption now!
I just want to know where I can get that emaciated piggy bank! :D
That poor piggy bank makes me sad.
At least people are less worried now. That's something...