Regulators have told Bank of America Corp. and Citigroup Inc. that the banks may need to raise more capital based on early results of the government’s so-called stress tests of lenders, according to people familiar with the situation.The capital shortfall amounts to billions of dollars at Bank of America, based in Charlotte, N.C., people familiar with the bank said.
Executives at both banks are objecting to the preliminary findings, which emerged from the government’s scrutiny of 19 large financial institutions. The two banks are planning to respond with detailed rebuttals, these people said, with Bank of America’s appeal expected by Tuesday.
We are given to understand that BAC will be objecting on the grounds of “shrinkage” (Lewis was in the pool), which gave us an inaccurate representation of things, and Citi’s yet to come up with something. Do Vikram Pandit a solid and offer a good excuse now. He’ll pick the best one from comments in the morning.
Fed Pushes Citi, BofA to Increase Capital [WSJ]
Posted by guest , Apr 28, 2009 12:26AM
i
Posted by guest , Apr 28, 2009 12:30AM
What a surprise
Posted by guest , Apr 28, 2009 12:35AM
Sextuple dome light. Hot, Bess, hot.
Posted by guest , Apr 28, 2009 12:43AM
baahahahaha
Nothing is Fucked
Posted by guest , Apr 28, 2009 12:43AM
Darling Bess do you ever sleep? As always nice tags...
Posted by guest , Apr 28, 2009 12:49AM
KL's rebuttal: The situation is fluid.
VP's rebuttal: What? No love for cutting the snackie-poo?
Posted by guest , Apr 28, 2009 12:57AM
@3 there are 7 lights. You're in finance, really?
Posted by guest , Apr 28, 2009 12:58AM
@7- there were 6 before.
-not 3
Posted by guest , Apr 28, 2009 2:17AM
nothing is fucked dude.
Posted by guest , Apr 28, 2009 5:39AM
They're gonna have to sell a whole lotta hogs out in Charlotte to raise that capital
Posted by guest , Apr 28, 2009 6:44AM
I thought the flashy blue and red thingies were a warning that Swine flu is ahead.
Posted by guest , Apr 28, 2009 6:52AM
@11- guess you thought wrong.
Posted by guest , Apr 28, 2009 6:53AM
@11- The word you're searching for is "siren."
Posted by guest , Apr 28, 2009 7:02AM
@13 If you look closely you will note that those are lights not sirens. They emit no sound. Flashy Blue and Red thingies is quite appropriate in this case.
si⋅ren /ˈsaɪrən/ [sahy-ruhn]
3. an acoustical instrument for producing musical tones, consisting essentially of a disk pierced with holes arranged equidistantly in a circle, rotated over a jet or stream of compressed air, steam, or the like, so that the stream is alternately interrupted and allowed to pass.
4. an implement of this kind used as a whistle, fog signal, or warning device.
Posted by guest , Apr 28, 2009 7:06AM
@14- sure they do. are the speakers on your computer not working?
Posted by Investorcluzo , Apr 28, 2009 7:35AM
@15 - FTW!
why does wells only get a passing mention at the end of the story. without the FAS 157 chicanery, their TCE ratio would be lower than BofA...it's a buffett conspiracy (second only to gs) - where are you maxine?
Posted by AJ , Apr 28, 2009 8:09AM
Does CNBC not get the WSJ? They're too busy talking about swine flu and Chrysler to mention Citi and BofA's failure.
Posted by guest , Apr 28, 2009 8:16AM
@15 - my speakers are always off so that I can checkout stuff on http://www.redtube.com
Posted by guest , Apr 28, 2009 8:19AM
THERE ARE FOUR LIGHTS.
Posted by guest , Apr 28, 2009 8:21AM
@19 knows what's up
Posted by guest , Apr 28, 2009 8:31AM
See ya Vikram, thanks for playing. Will the next sucker please step up to the line.
Posted by guest , Apr 28, 2009 8:43AM
@19. Good TNG reference.
Perhaps that's the solution too. With the right Cardassian "incentives", maybe we will find out there is ample capital at C after all.
Posted by guest , Apr 28, 2009 9:04AM
Vik: " Hold on -as soon as the Raymond photo of me sells we will be fine.."
Posted by guest , Apr 28, 2009 10:50AM
Who's buying the special edition "Playmates of Citibank" issue? First copy is mine.
Posted by guest , Apr 28, 2009 11:38AM
@19 - beat me to it!
but might i make a suggestion in style? perhaps somethings like:
"There...are...four...lights!"
-JLP
would have packed a stronger punch(or would it be "JP"?) In any case, just a matter of preference.
I have too much time on my hands...I wonder if Diana Troy still gives me a boner...
Posted by NotNasser , Apr 28, 2009 11:51AM
16,
"...it's a buffett conspiracy (second only to gs) -"
The Buffett conspiracy was obviously hatched by the conspiratorial parrots of Margaritaville.
If you watch Sourth Park, you know just how crucial Margaritaville Backed Securities have been.
Posted by guest , Apr 28, 2009 12:19PM
@22 wrote: "With the right Cardassian "incentives", maybe we will find out there is ample capital at C after all."
Are you suggesting Kim Cardassian can exert some effect on Citi? I had no idea she was that powerful. Big ass, too. I asked our quants about the financial influences of Kim Cardassian (news to me!!) but even they didn't know.
Posted by guest , Apr 28, 2009 1:35PM
Vikram says: Hey! Look behind you! There is a sick pig coming your way! Of course you think its about the flu epidemic, but really its just his company. In the meantime he uses his new "reach around" technique and lifts your wallet.
Posted by guest , Nov 08, 2009 2:52PM
those blinking lights are killing my eyes... I'm gonna have seizure. bondage porn