Stress tests show banks need $75B

Government gave banks a stress test to see if they could with stand a more severe down turn in the economy. The following 10 banks susposedly failed that test: Banks that need more capital are: • Bank of America Corp. — $33.9 billion • Citigroup — $5.5 billion • Fifth Third Bancorp — $1.1 billion • GMAC — $11.5 billion • KeyCorp — $1.8 billion • Morgan Stanley — $1.8 billion • PNC Financial Services Group — $0.6 billion • Regions Financial Corp. — $2.5 billion • SunTrust Banks — $2.2 billion • Wells Fargo + Co. — $13.7 billion .
Treasury Secretary Timothy Geithner said,the test were very credible. Does that mean the test done regularly by the FDIC are flawed, and not to be trusted. The FDIC is required to do such test on a regular basis. Did this economic crisis sneak up on us, or were the people who were to be on watch corrupt or just asleep at their post? How do you like knowing that any time soon American Tax payers debt may be increased another $75 billion or more? Do you favor Nationalizing America's Banks. Is this the change you voted for?
This is just the beginning, but look back over Oboma's first 108 days in office, and see the power and direction he is taking the country. Does this alarm you?
If so than contact your Congressional Representatives in Washington and express your concerns.
Now is the time, join you voice with others, because in numbers there is strength. Our fore fathers established this Republic so the people had the power, and government was a servant to the people. It seems over the decades this concept has gotten left behind. Contact your representatives today, and continue to follow Washingtons daily activities.

Submitted by

Richard Lewis