Stress tests show 10 big banks need $75 billion more capital
Federal Reserve results indicate 10 of the 19 largest banks require about 75 billion in new capital to absorb further losses if the recession worsens. Bank of America leads with 33.9 billion, followed by Wells Fargo and others, while regulators set a June 8 deadline to file plans.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Bank of America Corp
Wells Fargo & Co
Gmac LLC
Citigroup Inc
Morgan Stanley
Regions Financial Corp
Birmingham
Ala
SunTrust Banks Inc
Atlanta
KeyCorp
Cleveland
Fifth Third Bancorp of
Cincinnati
Governmn
Kevin Logan
U.S
Dresdner Kleinwort
Logan
Citigroup
State Street
Dow Industrials
Dow Transportation
Dow Utilies
NYSE
S&p
Woshire
Russel
VandaPha
GiooalCash
HeathFin
DeertCap Rs
Ett Wing
Genworh
Waltering
HangenMed
Arter H
Tennecoh
GranTrrag
GenElec
At&t Inc
MIT
jDowChm NY
Prusns&p NY
EmersonEl NY
Proushire NY
Fannie Mac H NY
Proushifn NY
Sherwin NY
Spdrpnd
Shemits
NYMX
Pork Belles
CME
Chicago Board of Trade
NYBT
New York Board
Bad Rae
Mo BalAm
American Funds BondAm
Mih
Eurpacgramfb
FninvAm
GrthAmAm
incAmerAm MA
Invcoama m LV
Wamutinva m LV
Dodge & Cox intiStk
Cox Stock
Pimco TotRetis Ci
Vanguard
Vanguard Instidx
ATIC
Ime
Tarachen
Chan Rand
Severstal to Idle Ohio and West Virginia Mills
Russian owned Severstal International will idle Wheeling Inc. in West Virginia and Warren Inc. in Ohio affecting about 3,100 workers. Some layoffs are temporary while others are permanent as the steel market remains weak and demand falls globally. Governor Manchin calls the move heartbreaking and pledges aid to workers.
MENTIONED IN THIS ARTICLE
Charleston
W.va
Severstal International
West Virginia
Ohio
Severstal Wheeling Inc
Severstal Warren Inc
Bette Kovach
United Steelworkers
Tony Montana
Mately
Severstal
United States
USW
Gregory Mason
U.S
Wheeling and Warren
Warren
Wheeling
Joe Manchin
Manchin
Tinue
OAO Severstal
Charles Bradford
Bradford Research/ Soleil Securities
Associated Press
Phoenix
Las Vegas
Bradford
GM posts first quarter loss of six billion dollars
GM reports a 6 billion dollar first quarter loss as revenue plunges 47 percent to 22.4 billion. The Detroit automaker warns of 2.6 billion in new government loans and a 9 billion loan need for the year while facing a June 1 deadline to complete restructuring or risk Chapter 11.
MENTIONED IN THIS ARTICLE
Detroit
General Motors Corp
Ray Young
Young
Chrysler
Aus
Barack Obama
U.S
North America
Europe
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Capital One Bank
New York
Citigroup, Inc
Bank of America
Jpmorgan Chase & Co
Bb&t Corp
the Bank of
New Mellon Corp
State Street Corp
MetLife Inc
Steelmaker
SCORE
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SBA
Scorecleveland.org
General Motors
the Market IN Review
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