May 7, 2009

U.S. banks 'stress test' finds $75-billion vulnerability

Per the Wall Street Journal, the United States federal government announced Thursday that 10 of the nation's 19 largest banks will be required to raise extra capital, as the banks came up $75 billion short of dealing with a hypothetical worst-case scenario 2009.

Even so, it is a more optimistic report than some anticipated even months ago, according to the Journal.

Some Americans used Twitter to share how their banks fared in the stress test.

  1. Miles Tonkin
    milestonkin (Los Angeles, Calif.) So, all of the financial organizations I have debt with have failed the stress test. Does that mean if they fail, I am free?
  2. Angel B.
    angelb123 (Silver Spring, Md.) My bank is listed as one of the 10 needing money according to stress test. Should I be concerned? Probably not. But should I?
  3. alex nydahl
    alexnydahl (Beaverton, Ore.) My bank passed the "stress test." What's the appropriate response? "Go!, faceless multinational, go! Keep on not being bankrupt! (yet)" ??
  4. donna feener
    dfeener (Maine) Ugh. I knew BofA would be worst in stress test because I was on the inside. But does the CEO realize how angry he comes across? He looks ...
  5. Brian E
    artwithbyte (San Francisco, Calif.) Great. My bank is the most at risk following some "stress test" by the government. That makes everything else just PEACHY!

Others in the Twitterverse responded to the news with questions.

  1. RachelWells
    GenRachel (Depew, N.Y.) Bank stress test results in...anyone care? Where is my check book, I shall write them a check....will it help?
  2. richardbsmith
    richardbsmith (Chattanooga, Tenn.) Was the bank stress test results just much ado about little?
  3. Jack Bennett
    NJHounds (New York/New Jersey) $$ Can we now get back to pricing stocks on things like EPS, FCF, etc? Stress test is over, everybody survived. Enough already!
  4. Denice Bruce
    denny111 (Wichita, Kansas) Is anyone shocked to hear that most of the big banks failed their "stress test"? Really?
  5. Bill Warner
    Bill_Warner (Wake Forest, N.C.) @jack_welch The Stress Test is a scam for more government control of banks isn't it Jack? This is the FDIC's job, right?............Bill
  6. Sam Hong
    sapamire (Pennsylvania) stress test says banks need another $75B. when is the madness going to end? #tcot #teaparty

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