Word: bankses
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That likely means no big bank will be deemed too stressed to survive. The official says the Treasury does believe some of the banks will need additional capital to make them stronger, and in all likelihood the government will identify those banks. (See TIME's photos of the G-20...
The bank stress tests are considered one of the key components of Treasury Secretary Tim Geithner and President Barack Obama's plan to fix the financial system. They are designed to determine which banks would fail and which would survive if the economy worsens, as some economists expect. But when...
At first, the Treasury Department said it might not release the specific bank results. Observers assumed that Treasury officials were nervous that if a bank failed the test customers and investors would flee. But in the past few weeks the Obama Administration has started to believe that the market is...
It also means, if you have been following the financial crisis, you won't be too surprised to find out which banks turn out to be stressed. Shares of Goldman Sachs, for instance, are only 40% off where they were a year ago. Citigroup's shares are down 86%. The...
The Administration source says that the stress tests have uncovered the fact that risk controls at major financial institutions, even those that haven't failed, were much too loose. But the most surprising result from the stress tests and related discussions may be this: bankers continue to appear oblivious to...