Study Finds That Major American Financial Firms Would Need $500 Billion To Weather Another Economic Crisis

According to a study by Nobel Prize-winning economist Robert Engle, America’s biggest financial institutions would need more than $500 billion in fresh capital to survive another economic downturn. That’s nearly equal to the amount the six firms — JP Morgan Chase, Bank of America, Citigroup, Morgan Stanley, Goldman Sachs, and the insurance giant AIG — [...]



via ThinkProgress http://thinkprogress.org/economy/2012/06/07/496320/banks-500-billion-study/?mobile=nc