Stress Test Leak: BAC Needs $34 Billion In Capital

Quote from [Proximo]:

Another 34B. That's a drop in the bucket. They just have to run the presses in overtime for a few weeks.

No problem guys. The US is in great shape. Just print more money everything will be fine.

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Yup - we'll probably be limit up by morning given how bullish this should be taken!
 
This is uber bullish. 1000. No problem.

This is just a mere opportunity for Goldman Sachs to accumulate more contracts.

No problems. None. Nada.

Quote from riskymove:

Yup - we'll probably be limit up by morning given how bullish this should be taken!
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Quote from riskymove:

Yup - we'll probably be limit up by morning given how bullish this should be taken!
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Once CNBS starts targeting the news calling it already priced in I wouldn't doubt it.
 
Quote from ipatent:

The 34B is with mark to market rules suspended.

What would it be under mark to market?
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Where did you read that? I haven't seen anything other than a small blurb from reuters on the news.

You'd have to assume if M2M was in place the capital need would be higher - how much I have no clue.
 
AFAK, there are not going to be another rescue package for banks soon, so overnight LIBRO will raise. Not a good news for corporations in cash-strap situations.

"Luckily"; we had this rally so banks can issue more preferred shares to raise capital from stock market.
 
Quote from MrDODGE:

Once CNBS starts targeting the news calling it already priced in I wouldn't doubt it.
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Yep - sad how cynical the last two weeks have made me....
 
Multiply this X 2 for the actual number.

Oops, did we say 34?

Quote from MrDODGE:

Bank of America to need $34 bln in capital-source
Tue May 5, 2009 9:42pm EDT

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WASHINGTON, May 5 (Reuters) - Bank of America (BAC.N) has been deemed to need an additional $34 billion in capital, according to the results of a government stress test, a source familiar with the results said on Tuesday.

A Bank of America spokesman declined comment. (Reporting by Karey Wutkowski; Editing Bernard Orr)
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Just setting the stage so that when they announce they only need 29 billion it's deemed as good news and the market rallies big.
 
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