When Zombie Banks Walked the Earth 0
InsolventInsatiable:
Wells Fargo & Co needs $15 billion, Bloomberg News said, citing an unnamed source. Citigroup Inc may need as much as $10 billion, a person familiar with the matter said. About 10 of the 19 banks that were tested may need capital, a person familiar with the official talks said.
And the rumors are these stress tests weren’t very stressful.
Over at the Great Orange Satan, a poster wonders why the truth is coming out in such dribs and drabs (Warning: mild language):
I think that it’s because the truth of Wall Street’s malfeasance, perfidy, cupidity, and stupidity is so bad that the government is afraid it could lead to panic and that, frankly, we would all be better off just to know the extent of the badness, but that’s just me.
But, then, that would reveal that the financial emperors have no clothes.
And We Can’t Have That. After all, Greenwich, Conn., gets awfully chilly in the winter.
