Rep. Brad Miller (D-N.C.) tells The Washington Post that there will be no new bank bailout if financial companies suffer serious losses due to the recent foreclosure fraud scandal.
It’s kind of easy to take pleasure in all this and think the banks are being hoisted on their own
The headlines about stress tests released Thursday seemed sort of reassuring, after all the concern about the banking system going under. Ten banks need more capital but the others are safe. Federal Reserve Chairman Ben Bernanke made a point of declaring that none are insolvent. Everyone should breathe easier. More…
Paul Krugman raises a point worth thinking about as you hear more about stress test results for banks, which are expected to be publicly disclosed on Thursday. Why have so many of the results already been leaked — and who is doing the leaking? For example, we’ve known More…
The Wall Street Journal reports today that Citigroup and Bank of America may need to raise more capital, based on recent government stress tests of financial institutions. The identities of troubled banks were supposed to remain confidential, but The Journal cites the usual “people familiar with the situation.” Regulators More…
Some of the nation’s 19 largest banks have substantially reduced capital as a result of the recession and the mortgage crisis, the Federal Reserve’s stress tests show, according to Bloomberg. At the same time, most banks have more than enough reserves on hand to cover any potential losses, the More…
So much for that transparency and openness when it comes to the Obama administration’s financial rescue efforts: The Federal Reserve has reportedly told banks to keep quiet when it comes to the results of stress tests done to find out more about their bottom lines, Bloomberg reports.
The story More…
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