Are the stress tests working? According to Ben Bernanke, “Government ‘stress tests’ of how 19 major banks would endure a sharp downturn in the economy already appear to be helping banks gain access to private capital,” reports Reuters. More good financial news from Reuters: “Citigroup Inc, the bank bailed out with $45 billion of U.S. taxpayers' money, is using almost all of that money to make new loans.” Bank of America, meanwhile, sold $7.3 billion worth of shares in China Construction Bank in order to help raise the $34 billion in capital the stress test said it needed.
Read it at Reuters
