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27 May 2009 10:42

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Biz, U.S.: Bank of America somehow raised a lot of money really fast

  • $33 billion Amount the U.S. government told Bank of America to raise after recent stress tests gave them failing marks
  • $26 billion Amount Bank of America has raised from investors since the stress test earlier this month. Not bad. source
Posted by Ernie Smith • 1 Comment • Permalink

07 May 2009 09:03

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Biz, Politics, U.S.: Timothy Geithner sounds like a smart guy in this NYT op-ed

  • The effect of this capital assessment will be to help replace uncertainty with transparency. It will provide greater clarity about the resources major banks have to absorb future losses.
  • Treasury Secretary Timothy Geithner • Making an argument in the New York Times as to why the banking industry stress tests were necessary, even though they made Bank of America look like the worst company on the planet to hold your money. Jeez, if only he did this a few months ago when everyone hated him for sucking at his job. • source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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