Hello I’m Charlotte Bellis and you’re watching newsy.com.
The U.S. media is flooded with news about whether America’s banks can support themselves.
The government will release results of a three-month stress test Thursday on 19 of the nation’s biggest banks.
The goal of the stress test is to establish how much more federal aid the banks would need to withstand the financial crisis and bring the country out of its recession.
A Huffington Post columnist has the perspective...
“It’s time to set aside the myth of the mega-bank as victim. These banks aren’t ‘too big to fail,’ but simply ‘too politically connected to fail.’” (Huffington Post)
FOX News says the test is a PR stunt to boost the public’s faith in the banking system...
“Ultimately though, the intent, and keep in mind that we’ve been told, that you know, this whole stress test it’s kind of a PR stunt, it’s kind of a gimmick to make us feel good about what’s going on with the banks. This is not good news! Also, it speaks to the fact that the intent of the stress test was to show that banks had money and would give out money. Lend money. They’re not lendin’ money!” (FOX News)
CNBC says the stress test is necessary.
“The stress test will bring out some stuff that maybe people don’t want to learn about. But we’ve got to find out what banks are in trouble and what aren’t and what do we do from here.” (CNBC)
The Washington Post brings the opinion of White House Press Secretary Robert Gibbs who looks at the worst-case scenario – banks needing more money...
“I think everyone involved will be looking for banks to raise this through either private means or the selling of some assets that they have or that they control...” (The Washington Post)
The New York Times looks at what the likely results of the stress test will be.
“Unless regulators change course this week, the tests are also likely to forecast potential losses in individual slices of the credit markets, like residential mortgages, credit card loans and commercial loans, for each bank over the next two years.” (The New York Times)
Copy the code and paste it to your blog or website:
