Word: banke
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...Oyeniyi expanded the board to help her with organizing events and finally opened a Girlspot bank account...
...Bank of America •oops! $34 billion in new capital is needed...
...that three months of supervisory scrutiny of the country's top 19 banks hasn't produced some grim news. If the economy dropped to Depression-era levels of unemployment and credit shrinkage, according to the Treasury and the Federal Reserve, those firms could lose nearly $600 billion by the end of 2010, on top of the $350 billion they've already lost since mid-2007. Bank of America needs nearly $33.9 billion in new capital, Wells Fargo needs $13.7 billion and Citigroup needs $5.5 billion. Altogether, 10 of the top 19 need $74.6 billion in additional capital...
...remarkable bit of salesmanship, Geithner has managed to package those findings as positive. Most of the banks can meet or beat the newly imposed government capital requirements on their own, either by selling off parts of their business, converting loans into stock or participating in the fledgling government-led effort to get toxic assets off their balance sheets. And those that are short on cash won't need more in total than the $110 billion to $135 billion the Treasury still has from the original $700 billion in TARP funds that Congress gave the Bush Administration for bank rescues last...
...news, leaking out over the course of several days, likewise lifted the markets, sending bank stocks up dramatically for the week by close of business Thursday. And for all the grim numbers, the banks themselves were touting the results, too. "The regulators demonstrated that the industry is strong now and, should conditions worsen, will only need minimal capital to remain strong," says Scott Talbott, a top lobbyist for the banks...