Stress tests find 10 big banks need $75B more

On Thursday, The United States received the eagerly anticipated “stress test” results from 19 of the largest banks in the United States. The findings showed that 10 of the largest banks still need approximately 75 billion dollars to withstand losses if the recession were to take a turn for the worse. The results did show that just like the rest of the U.S. Economy, there is improvement across the board. However, we are not out of the clear yet. Among the 10 banks that could possibly ask more funding are Bank of America, Wells Fargo, Citigroup and Morgan Stanley.

I find the news from this article to be uplifting, and that makes me very optimistic about the health of the banks because some of the banks are no longer requiring additional federal funds, and that the continued support of these banks by the federal government shows that these banks will not fail.

http://news.yahoo.com/s/ap/20090507/ap_on_bi_ge/us_banks_stress_tests;_ylt=Aqn8GiZcAp7NgUiXX6OCX2ms0NUE;_ylu=X3oDMTJtNTAxZW12BGFzc2V0A2FwLzIwMDkwNTA3L3VzX2JhbmtzX3N0cmVzc190ZXN0cwRjcG9zAzEEcG9zAzMEc2VjA3luX3RvcF9zdG9yeQRzbGsDZnVsbG5ic3BzdG9y