Banks still broke: Stress Test results say another $75 billion needed

Evan Benn

May 7th 2009 at 7:30PM

Text SizeAAA

Filed under: Banks, Credit, Debt, Real Estate, Recession, Investing

The results of the buzzworthy Bank Stress Test, released Thursday at 5 p.m. Eastern, say 10 out of the 19 biggest U.S. financial institutions need a combined $75 billion to stay afloat through the financial downturn.

My bank, Bank of America, was found to need the most cash -- almost $40 billion. But the bank I'm soon leaving it for, US Bank, was one of the eight, TheStreet.com reports, that doesn't need an additional infusion of money to survive.

I'm feelin' right now like I made a pretty good choice.

Source

Subscribe to Walletpop

Goal amount	$
Current savings	$
Rate you earn		%
Years to invest

How to Serve Cheese

Everyone loves cheese, but do you know how to compose a cheese plate? What cheeses go well ...

Too Many Sweets Will Impair Your Immunity

It doesn't matter what time of year it is, sugar and sweets always seem to be in abundance. Cookies, ...

Learn More»

There are many types of bank accounts and services. Learn more about them here.

Featured Brokers

E*TRADE Financial	Scottrade	Fidelity

Ask the Dolans

I have a high amount of debt and have been thinking about debt consolidation. Can you explain how this works, and how it affects my FICO score?

Ask your own questions to the Dolans

Martha C. WhiteDec 25th 2009 5:00PM Filed under: Banks

Diet for fat-cat bankers an illusion

As another year of jobs lost, homes foreclosed and budgets cut draws to a close in America, some of Wall Street heftiest fat cats are tipping the scales with their bonuses -- and pocketing your tax ...

A black hole in health insurance

At 63, Billie Hoke is two years and a ton of worry away from the health care goal line. She will have to wait until 2011 to join the millions of Americans in the Medicare program for people 65 and ...

The rush to convert: Why 2010 will be the year of the Roth IRA

Think of 2010 as the year of the Roth IRA. Beginning January 1, the rules governing who can invest in a Roth will be modified, allowing anyone with an existing traditional IRA to take advantage of a ...

Pulse SmartPen a fun, useful $150 gift for students

Although I write about technology I won't say I'm a gadget junkie, but when I saw this item, I admit to feeling a bit covetous. The Pulse SmartPen is indeed a gadget by Oakland, Calif.-based company ...

WalletPop Blog bloggers (30 days)

#	Blogger	Posts	Cmts
1	Julia Scott	86	0
2	Josh Smith	32	4
3	Aaron Crowe	30	0
4	Gina Roberts-Grey	24	0
5	Charles Feldman	21	0
6	Zac Bissonnette	21	0
7	Madhusmita Bora	20	0
8	Tom Barlow	17	0
9	Geoff Williams	17	0
10	Martha C. White	16	0
11	Janean Chun	15	0
12	Mitch Lipka	14	0
13	Barbara Hernandez	14	0
14	Jason Cochran	13	2
15	Lita Epstein	13	0
16	Megan Angelo	11	0
17	Kelly Phillips Erb	11	0
18	Bob Cesca	10	0
19	Bonnie McCarthy	10	0
20	Lan N. Nguyen	9	0

Use these bank account calculators and tools to help you make the smartest bank account moves.

Check Latest Bank Rates in Your Area
Safe & Sound (R) Bank Safety Ratings
Establish a Target Savings Goal
How Long Will Your Savings Last?
CD Interest Calculator
CD Laddering Tool
See All Calculators
-----------------------------------------

Banks still broke: Stress Test results say another $75 billion needed

From the Blog

Blog Features

Personal Finance

Most Commented On

How Much Should I Save?