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Bank of America, Citi fail stress test; need billions more
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Tuesday, April 28, 2009
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From Clusterstock:

So begins the tricky process of rolling out stress test results...

The dance starts with a leak to the WSJ. Word is that the Federal Reserve has told Citigroup (C) and Bank of America (BAC) that they'll both need to raise billions more in order to be adequately capitalized. Neither is a huge surprise. Both have received exceptional levels of assistance already, and analysts have already said that both will need more cash.

Read full article...

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Topics: Banks | Stocks
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