I was gonna write a little song and dance on the whole bank-stress-test-oscar-winning-extravaganza show, but then i thought otherwise. You see, why not leave it to the guys who started this thing to tell their own story…
And the winner is…Only 10 banks need to raise capital and only 75bn of it!!!
75bn is a nice number. By now you guys are numb enough from the TARPnaisthisia to not really feel the pain so here’s some comp shots.
75 = 10 more than Madoff made off with
75 = 13 more than AIG lost by itself last quarter (and 35 more than it received in Fed funding in order to have the privilege to report this quarter)
75 = 70 more than AIG lost this quarter (without the 30 option payment to get to today) and last, just to list a non-negative one…
75 is a little over a third of what AIG has gotten in funding so far in order to stay alive and keep losing money, so i think we got some room to grow here
PS you know that the recession is over when the numbers thrown around fail miserably to impress anyone
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