Banks still broke: Stress Test results say another $75 billion needed
byMay 7th 2009 7:30PM
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.