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Ben Bernanke wants banks to raise more capital
Cincinnati Sun
Friday 16th May, 2008
US Federal Reserve Board Chairman Ben Bernanke has said banks and securities firms will need to keep raising capital to improve their balance sheet following credit crisis.
At the Chicago Federal Reserve, Mr Bernanke said that financial institutions and lenders needed to avoid deeper damage to the U.S. economy by de-leveraging.
Bernanke praised the financial firms as they have been raising capital after taking billions in writedowns due to bad mortgage loans or investments.
So far, banks and securities companies have reportedly raised about US$244 billion of capital since July, after they posted writedowns and credit losses of as much as US$333 billion.
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Comments on this story
| By jagoff, 05-17-08, 12:31 AM |
Ben Bernanke wants banks to raise more capitalthe banks are broken, bernake. just keep on printing more money for them so the execs can keep getting paid for doing nothing (i.e. not lending) |
| By Shawn Gordon, 05-17-08, 03:05 PM |
Dollar falling to Euro!It seems to me that financial people are just robbing Peter to pay Paul while our
dollar, a reflection of economic strength,
keeps falling to the Euro and other curren-
cies.
WHY? We need sound economic polices in this country.
There can be a lot said that the Iraq
War on Terror is putting a strain on our
monetary policy with increasing Government
deficits.
We should ask GOD for help!
Realizing where doing a lot wrong,
Shawn M. Gordon |
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