Smaller US Banks Need Additional $24 Billion

Financial Times:

Small and medium-sized US banks must raise some $24bn to meet the capital standards set by the government in its stress tests of large institutions, research for the Financial Times shows.

Read the whole story: Financial Times

Comments

[themodernleader]

kache. The Financial Times probably got their statistics from the Federal Reserve. The number ot troubled banks was considered as 500, not 200 as you report.. I read the article.

[larry278]

This blog establishes why FT has become America's financial newspaper of record. No American based paper would touch this story.

[themodernleader]

Kache. My main source for the condition of banks comes from Martin D. Weiss CEO of Weiss Research, Inc. who pioneered the continual, comprehensive assessment of banks, insurance companies, savings and loans, credit unions and so on. The independent organization that now provides the service free, I believe, estimates that there are at least about 1400+ banks in trouble.
2000 broke banks is not unreasonable to expect given the unprecedented debt at every level and corner in our bankrupt country. Our failure to manage our finance and economy is such a loathsome and consuming failure that this failure is a stranger in its own country. We refuse to acknowledge our economic and financial peril, therefore, we do no address the causes of the hemorhage of our strength and sustenance.

[CountryBeforeParty]

There are a lot of small banks that are surviving and doing fine despite the crisis.

I would suggest to people who have their money toiling in places like BoA, try moving money to the smaller banks. Get back to basics and work with them to help build your business. You'll get competitive rates and much better service.

[Deaninphilly]

“At some point there’s going to be massive consolidation,” said one industry banker.

And there it is one line that spells out what these "stress tests" were really about. Setting a bar that the smaller banks couldn't reach to consolidate them. Gee who do think is going to be buying these small banks.

[Kache]

"independent sources are more reliable than government official documents"

Well the "independent source" for this article (you did read the article, didn't you) thinks that number may be 200, which makes your hysterical prediction of 2000 look pretty... well.. hysterical.

[CaptainStormfield]

http://www.ronpaul.com/on-the-issues/audit-the-federal-reserve-hr-1207/

Ron Paul is sponsoring a bill to audit the Fed. About time.

[themodernleader]

Now we are told indirectly that 500 more banks may have to close. In a year it will be double that amount. By the depths of this terrible depression it will be closer to 2000 banks closing. Our government has not been honest with the people about the enormity of this banking fraud and bad debt, maybe not even honest with its own officiers. When independent sources are more reliable than government official documents, the poor citizen must recognize that truth is so profound that it must be hidden from the American people. This is yet another indicator that democratic government has flown the coup.
The coverup will unravel when our despicable leaders can no longer borrow and must call for sacrifice of the vast generality of people. The wealthy will not be required to donate. Their wealth must be privately loaned and invested in absolute bankruptcy auctions. The bailed-out bankers will have long migrated to more fertile, safer lands.