| Geithner Says Banks’ Stress-Test Results Will Be ‘Reassuring’ |
| News - Americas |
| Written by Michael McKee, Bloomberg |
| Thursday, 07 May 2009 06:46 |
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May 7 (Bloomberg) -- Treasury Secretary Timothy Geithner said none of the 19 banks subjected to government stress tests are insolvent, which should reassure investors and the public that the U.S. financial system is sound.
While some banks will need to raise more capital, there are a number of ways they can do that and most should be able to do it in the private sector, Geithner said yesterday in an interview with Charlie Rose. “I think the results will be, on balance, reassuring,” Geithner said. “None of those 19 banks are at risk for insolvency.” |