Stress Tests: Feds tell 10 banks to raise $75 billion more

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)

4 Responses

  1. In addition to how much each of the passing banks donated to who in last year’s election, it might be interesting to research who sits on their boards, hmmmmmm?

  2. We know about Jamie Dimon, JP Morgan, formerly of the NY Fed, and Goldman Sachs’ info is pretty much out there with Paulson and his appointing his Midwest buddy, Liddy, formerly of Allstate to head up AIG, and Robert Wolf of USB was a big Obie bundler introduced to him by Soros.
    Wonder what else is out there?

  3. Who did Bank of America piss off. The Bush treasury and the Fed forced BOA to eat the putrid corpse of Merrill Lynch. I suspect that that is a major part of the $33 billion.

  4. Well that was easy to see coming from 10 miles away.

    Just another way to give free taxpayer money to
    Obama’s Biggest Campaign Contributors –
    the Wall Street Finance Bankers.

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