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]
i
What a surprise
Sextuple dome light. Hot, Bess, hot.
baahahahaha
Nothing is Fucked
Darling Bess do you ever sleep? As always nice tags…
KL’s rebuttal: The situation is fluid.
VP’s rebuttal: What? No love for cutting the snackie-poo?
@3 there are 7 lights. You’re in finance, really?
@7- there were 6 before.
-not 3
nothing is fucked dude.
They’re gonna have to sell a whole lotta hogs out in Charlotte to raise that capital
I thought the flashy blue and red thingies were a warning that Swine flu is ahead.
@11- guess you thought wrong.
@11- The word you’re searching for is “siren.”
@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.
@14- sure they do. are the speakers on your computer not working?
@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?
Does CNBC not get the WSJ? They’re too busy talking about swine flu and Chrysler to mention Citi and BofA’s failure.
@15 – my speakers are always off so that I can checkout stuff on http://www.redtube.com
THERE ARE FOUR LIGHTS.
@19 knows what’s up
See ya Vikram, thanks for playing. Will the next sucker please step up to the line.
@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.
Vik: ” Hold on -as soon as the Raymond photo of me sells we will be fine..”
Who’s buying the special edition “Playmates of Citibank” issue? First copy is mine.
@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…
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.
@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.
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.
those blinking lights are killing my eyes… I’m gonna have seizure. bondage porn
What would be your next topic next week on your blog.;;”*-This is the proper blog for anybody who wants to find out about this topic. You understand a lot its nearly hard to argue with you (not that I truly would need…HaHa). You definitely put a new spin on a topic thats been written about for years. Great stuff, just nice!