The Treasury released the much-anticipated results late Thursday, with Bank of America Corp. (BAC), Wells Fargo & Co. (WFC) and GMAC LLC being instructed to raise the most capital. JPMorgan Chase & Co. (JPM), American Express Co. (AXP) and Goldman Sachs Group Inc. (GS) were among the financial institutions deemed to not need fresh capital.
Here is the list of banks that were told to raise more capital. I’m sure you have already been bilked by at least one of them:. Get ready to bend over again.
* Bank of America Corp. (BAC) $33.9 billion * Wells Fargo & Co. (WFC) $13.7 billion * GMAC LLC $11.1 billion * Citigroup Inc. (C) $5.5 billion * Regions Financial Corp. (RF) $2.5 billion * SunTrust Banks Inc.(STI) $2.2 billion * KeyCorp (KEY) $1.8 billion * Morgan Stanley (MS) $1.8 billion * Fifth Third Bancorp (FITB) $1.1 billion * PNC Financial Services (PNC) $600 million
So who’s hide do we imagine this money will be coming out of?
Here’s a list of the banks that were not told to raise any additional funds. I find it ironic that several of them are only afloat today because they robbed Americans of major bailout money.
* JPMorgan Chase & Co. (JPM)
* American Express Co. (AXP)
* Goldman Sachs Group Inc. (GS)
* Bank of New York Mellon Corp. (BK)
* MetLife Inc. (MET)
* Capital One Financial Corp. (COF)
* State Street Corp. (STT)
* BB&T Corp. (BBT)
* U.S. Bancorp (USB)