WASHINGTON (AP) - The official release isn't expected until
after the markets close, but leaked results from bank stress tests
suggest some of the nation's largest banks need to raise more
But the Obama administration is downplaying concerns about the
need for more cash.
The tests were designed to gauge whether any of the nation's 19
largest banks would need more capital to survive a deeper
recession. Regulators have told Wells Fargo, Citigroup and Bank of
America they all need billions more.
Stress tests are normally done in private, but it's different
Critics are concerned that regulators seem so intent on
maintaining public confidence in the banks that the results will
have to say the banks are basically healthy.
The results appear to be good enough so that President Barack
Obama will not have to ask Congress for more bailout money -- which
lawmakers aren't likely to hand over easily.