Stress Tests: Banks Need to Raise $75 Billion to Stay Afloat
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The (sort of) good news: it could have been worse. The Government originally thought the lenders would need to raise $185 billion.
Treasury Secretary Timothy Geithner has suggested that banks who come up to the stress tests' snuff will be allowed to pay back their TARP funding from the government and get out from under its onerous conditions. Foes of the stress test think it's just a con: "These were not designed to gain information from the banks," says Irrational Doomsday Blog. "They were obviously designed to release a message to the public that the banking sector is stronger than it actually is."
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