May 7th, 2009 - Bloomberg
May 7 (Bloomberg) -- Wells Fargo & Co., Citigroup Inc.,Bank of America Corp., Morgan Stanley and Regions FinancialCorp. are raising at least $18.5 billion after the government’sstress test found the banks had too little common equity towithstand a prolonged recession.
Wells Fargo said today it will sell $6 billion of commonstock to the public, while Morgan Stanley aims to raise $5billion by selling stocks and bonds and Citigroup is exchangingan additional $5.5 billion of preferred securities into commonstock. Regions Financial Corp. said it’s studying options toraise $2.5 billion, and Bank of America will sell common stock.
Related stories:
Wells Fargo, Morgan Stanley take in $16.6 Billion
May 9th, 2009 - Los Angeles Times
Wells Fargo & Co. and Morgan Stanley, ordered to increase capital after the U.S. stress tests, raised $16.6 billion in stock and bond sales Friday, the first banks to respond to the government's mandate.
Wells Fargo: We can raise $13.7 billion easily
May 8th, 2009 - Reuters
NEW YORK (Reuters) - Wells Fargo & Co (WFC.N) said it expects to have no difficulty covering what the government said is a $13.7 billion capital shortfall, and plans to stay away from big acquisitions while it integrates Wachovia Corp.
STRESS TEST: CEOs Outline Way Forward
May 7th, 2009 - Wall Street Journal
(Adds statements from BofA CEO Lewis, other interpretations of results.) NEW YORK (Dow Jones)--The nation's biggest financial institutions received their marching orders from the government Thursday...
STRESS TEST: CEOs Outline Capital-Raising Plans, Way Forward
May 7th, 2009 - Wall Street Journal
NEW YORK (Dow Jones)--The biggest U.S. financial institutions received their marching orders from the government Thursday, and their chief executives wasted no time mapping out the road ahead.
Bank shares largely higher after stress-test results
May 7th, 2009 - MarketWatch
LOS ANGELES (MarketWatch) -- A number of financial stocks surged Thursday evening after the U.S. government released long-awaited results from its stress test of the sector...
Related videos from YouTube:
1:19Wells Fargo Co. Chairman Says Bank Stress Test Are "Asinine"
Lou Dobbs reports on a recent comment by the Co. Chairman of Wells Fargo that the Bank Stress Test implemented by President Obama are "Asanine".
6:18Banks Survive Stress Test - Or Do They?
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9:59Wells Fargo Chairman "Dick" Kovacevich Explains "What the Hell Happened" - Part 1
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9:06The Bubble Report: Bobby B Puts JP Morgan, Bank Of America, and Citibank though his own Stress Test
....it just keeps getting stranger by the day ...or is it just me .....we have gone from crazy to insane ...I think everyone is on Hallucinogens ...no..actually we would be better off it dat were tru... Check out the Bobby Bubble Head Video Blog All of Bobby's Videos Categorized bobbybubblehead ...
