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  #1  
Old 05-05-2009, 10:34 PM
Mike Kennedy's Avatar
Mike Kennedy Mike Kennedy is offline
 
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Location: Southern Hudson Valley
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Exclamation Reuters: Boa Needs $34billion.

http://news.yahoo.com/s/nm/20090506/..._bankofamerica

28 mins ago
WASHINGTON (Reuters) – Bank of America (BAC.N) has been deemed to need an additional $34 billion in capital, according to the results of a government stress test, a source familiar with the results said on Tuesday.

A Bank of America spokesman declined comment.

The amount is far higher than published reports had speculated the largest bank might need. It is certain to increase the pressure on Chief Executive Kenneth Lewis, whom shareholders ousted as chairman last week.
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  #2  
Old 05-06-2009, 08:34 AM
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Terrel L. Shields Terrel L. Shields is offline
 
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A zillion here a zillion there...Uncle Obama gonna take care o' me.
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  #3  
Old 05-06-2009, 09:18 AM
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Lloyd Bonafide Lloyd Bonafide is offline
 
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Of course they won't need any additional funds. At least not for a month or two.

Can the government please shut down at least one of these giant zombie banks??
  #4  
Old 05-06-2009, 10:37 AM
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^ You read my mind.
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  #5  
Old 05-09-2009, 08:27 AM
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Lloyd Bonafide Lloyd Bonafide is offline
 
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I guess we should stop criticizing the large zombie banks.

They, (along with GM and Chrysler), are the new GSE's.

If they need more tens of billions to stay afloat, then they get it. End of story.
  #6  
Old 05-09-2009, 09:47 AM
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William K William K is offline
 
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$34 Billion is no problem, it just means AMC appraiser is now only going to get $75 for the full 1004 w/ MC,. Oh and there will be a $25 fee paid by appraiser per appraisal transmitted.

See simple solution....
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  #7  
Old 05-09-2009, 04:33 PM
PLCG PLCG is offline
 
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Aw, you're just cranky because none of us is too big to fail!
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