Need 33 to
They already have 45 Billion from Tarp
They need to repay the 11.Will you guys learn to read before making a mountain out of this..ITS NOT AN ADDITIONAL 33.
Once they meet the 10 billion they will be even and repay TARP within a year or two.
Nothing has changed aside from convolution of words to induce selling.
ONLY 11 Billion? That's a RELIEF? That's just operating capital, what about all that off balance sheet derivative insolvency?
Oh, we're not supposed to look at that. Well when you sell your home and have to cough up $150,000, let me know if you can carry that off balance sheet.
Spin it all you want buddy, no one can save you now. You got caught in the web of lies, baggie, and now you're about experience an azz whooping.
Should have stopped while you were ahead, but no, you had to squeeze that last dime out of the run up while you lectured and pontificated on your brilliance.
By by smug azz.
Which means they have to raise what they can... and CONVERT a large portion of that 34 billion to common shares... which represents dilution... which represents a decline in the price... which contributes to the decline of the $RIFIN... which contributes to the ascent of FAZ...any questions?
http://www.reuters.com/article/marketsNews/idINHKG19529720090506?rpc=44 HONG KONG, May 6 (Reuters) - Treasury futures rose in Asia on Wednesday after reports that the U.S. government had determined Bank of America (BAC.N: Quote, Profile, Research, Stock Buzz) needs up to $34 billion in additional capital, spooking investors just before the official release of the bank stress test results.
* A source close to the stress test results told Reuters that Bank of America had been deemed to need as much as $34 billion in capital, driving S&P futures SPc1 down more than 1 percent and sparking selling of higher-yielding currencies against the yen <JPYX=>. [ID:nN05520304]
* Cash Treasuries were little changed despite the gains in futures, with Japanese markets closed for the last of its Golden Week string of holidays.
* Beyond the stress tests, dealers were bracing for the next two of this week's record $71 billion of refunding auctions. The Treasury will sell $22 billion of 10-year notes later on Wednesday and a 30-year bond auction on Thursday.
* A sale of three-year notes the previous day attracted solid demand, with the bid-to-cover of 2.66 the highest since an offer in February and above the 2.46 average of the last 10 auctions.
* Treasuries came under pressure on Tuesday after the ISM survey of the services sector showed activity contracting at a slower pace than expected even as new orders posted a surprisingly big improvement.
* Federal Reserve Chairman Ben Bernanke struck an upbeat note on the economy, saying the three-year U.S. housing bust may be near a bottom and the recession could end this year as long as there is no relase of the credit squeeze. [ID:nN05470010]
* In Asia trading hours, San Francisco Fed President Janet Yellen said rising Treasury yields reflect greater optimism about the economic outlook and that a recovery is likely in the second half of the year. [ID:nN05517211]
* T-note futures TYv1 edge up 8/32 to 121-6.5/32 on trading of about 16,500 lots, picking up from the previous day's volume in Asia.
* Ten-year notes <US10YT=RR> were flat in price to yield 3.165 percent, holding near a five-month peak. In when-issued trade, the new 10-year yield was quoted at 3.187/3.198 percent on Tradeweb <US10YTWI=TWEB>.
* The two-year/10-year yield curve was mostly steady at 218.2 basis points.
* Wednesday's economic data ECONUS includes the ADP private-sector employment report in the lead-up to the release of the monthly payrolls report on Friday.