WASHINGTON — Some big banks will need more bailout bucks, Obama administration officials said Sunday, although it is unlikely the government might need to take over any reeling institution.
"We’re confident that, yes, some are going to have very serious problems, but we feel that the tools are available to address these problems,” senior presidential adviser David Axelrod said.
Regulators now are putting the nation’s 19 largest banks through tests to determine their ability to withstand worsening economic conditions. The government hopes to make the results public in early May.
President Barack Obama, speaking at a news conference at the Summit of the Americas in Trinidad, declined to speculate in any detail on what the tests might show.
"I think what you’ll see is that, not surprisingly, different banks are in different situations. They are going to need different levels of assistance from taxpayers,” Obama said. "We’ll have more information as these stress test numbers are provided. I haven’t seen all of them yet.”
by the associated press
"We’re confident that, yes, some are going to have very serious problems, but we feel that the tools are available to address these problems,” senior presidential adviser David Axelrod said.
Regulators now are putting the nation’s 19 largest banks through tests to determine their ability to withstand worsening economic conditions. The government hopes to make the results public in early May.
President Barack Obama, speaking at a news conference at the Summit of the Americas in Trinidad, declined to speculate in any detail on what the tests might show.
"I think what you’ll see is that, not surprisingly, different banks are in different situations. They are going to need different levels of assistance from taxpayers,” Obama said. "We’ll have more information as these stress test numbers are provided. I haven’t seen all of them yet.”
by the associated press
