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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on November 20, 2008, 07:32:13 AM

Title: Financials need at least $1 trillion: analyst
Post by: Bindare_Dundat on November 20, 2008, 07:32:13 AM

(Reuters) - The U.S. financial system still needs at least $1 trillion to $1.2 trillion of tangible common equity to restore confidence and improve liquidity in the credit markets, Friedman Billings Ramsey analyst Paul Miller said.

Eight financial companies -- Citigroup Inc, Morgan Stanley, Goldman Sachs Group Inc, Wells Fargo & Co, JPMorgan Chase & Co, American International Group Inc, Bank of America Corp and GE Financial -- are in greatest need of capital, he said.

"Debt or TARP capital is not true capital. Long-term debt financing is not the solution. Only injections of true tangible common equity will solve the current crisis," he said in a note dated November 19.

Currently, the U.S. financial system has $37 trillion of debt outstanding, he noted.

http://www.reuters.com/article/ousiv/idUSTRE4AJ1GV20081120

Title: Re: Financials need at least $1 trillion: analyst
Post by: 240 is Back on November 20, 2008, 07:41:55 AM

So just print it.  What's the big deal?   ;D

Title: Re: Financials need at least $1 trillion: analyst
Post by: Bindare_Dundat on November 20, 2008, 07:57:36 AM

Quote from: 240 is Back on November 20, 2008, 07:41:55 AM

So just print it.  What's the big deal?   ;D

 ;D