Post Tagged with: "crisis solutions"
Saturday Night Live Grades the Stress Tests
I forgot to add this to my links. Very funny Saturday Night Live clip spoofing Timothy Geithner.
Black: Stress tests and the Big Lie
I found this story and video of Bill Black on Tech Ticker (hat tip Larry Doyle). Basically, Black thinks the stress tests were a joke, a common theme heard from those in the know. Listen to what he says about a really difficult stress test we gave Fannie Mac ten years ago. Results of the
Timothy Geithner on Charlie Rose
In case you missed it, this is Tim Geithner talking stress tests this past Wednesday on Charlie Rose
Ken Lewis defends Bank of America’s stress test results
In the CNBC video below, Ken Lewis defends his company’s performance on the stress test and answers some pointed questions in the John Thain – Ben Bernanke – Ken Lewis – Hank Paulson he said she said match. He also details how Bank of America plans to raise the $34 billion in capital to deal
FDIC Statement on the Stress Tests
This came to me in my inbox seconds ago: Federal Deposit Insurance Corporation (FDIC) Chairman Sheila C. Bair today commented on the release of the results of the Capital Assessment Program. Chairman Bair said: "I want to commend the Federal Reserve for leading the stress assessment exercise and believe that this effort will serve to
BofA, Citi, Wells and GMAC biggest losers in stress test leaks
If you haven’t noticed, the Treasury department seems to be leaking the results of the stress tests to reporters at the Wall Street Journal. Richard Bove, a well-known bank analyst was on Bloomberg Radio this morning talking to Tom Keene and said he knows they have been leaking. Yves Smith was on top of this
The Germans get tough with the state banks
Last week I wrote a post suggesting that the Germans were getting tired of bailing out their banks and had moved to more draconian solutions to ‘fix’ the banking sector. Nationalizing Hypo Real Estate this week will be the first move in that direction. But the Germans are not nearly finished in their effort to
Warren Buffett: Wells passes my own stress test
Warren Buffet speaks with CNBC in the lead up to the Berkshire Hathaway Annual Meeting. He talks a bit about stress tests and Citigroup. When asked about Wells Fargo, he says he administers his own stress tests and that Wells passes “with flying colors.” He also uses an analogy of a commodities producer selling copper
At least six banks need more capital under stress tests
This comes via Bloomberg: At least six of the 19 largest U.S. banks require additional capital, according to preliminary results of government stress tests, people briefed on the matter said. While some of the lenders may need extra cash injections from the government, most of the capital is likely to come from converting preferred shares
Channeling my inner Larry Summers
This is a thought experiment, so bear with me. I have written repeatedly how I felt that the U.S. Government’s plans to save the banking system were not adequate in the face of a severe capital shortfall in banking. On one level, I cannot understand the seemingly blinkered view now being taken in Washington by
Stress tests reveal Citi and BofA need more capital, but you knew that already
The leaks about who failed the stress tests are already starting. Who got a big fat ‘F’? Apparently, Citi and BofA for starters. But is that any surprise? Regulators have told Bank of America Corp. and Citigroup Inc. that the banks may need to raise more capital based on early results of the government’s so-called
Ackman and Stigliz talk Stress Tests with Charlie Rose
In this much-talked about Charlie Rose roundtable with Nobel Laureate Joseph Stiglitz joined by Bill Ackman of Pershing Square, Andrew Ross Sorkin of the New York Times and Kate Kelly of the Wall Street Journal, these experts discuss the government-administered stress tests. Joseph Stiglitz has been particularly negative about the Obama Administration’s banking crisis plan.