Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

WFC 85.85

-0.5%

10:47 AM EST

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To: Sr K who wrote (625)	7/24/2009 10:11:29 PM
From: djia101362	of 1428

This explains the major over haul of the BOD in May/June. It would appear the sanctions were handed down in conjunction with the stress test results since everything happened so quickly after the stress tests results. Unlike WFC who has been balking at the results of the stress tests, BAC didn't say a word and promptly raised the $33.9B in additional capital as if its life depended on it. I wonder how long these sanctions will be in place? You'd think the Fed might cut them some slack since Lewis could actually be credited with saving the world from financial disaster by going through with the Merrill deal.

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