Stress Tests Show 10 Big Banks Must Raise Total of $75 Billion

Three months of intense anticipation ended Thursday when the Obama administration said stress tests found that 10 of the largest U.S. banks will have to raise a total of $75 billion to prepare for losses that could come from a deepening recession.

Bank of America (BAC) will have to raise $33.9 billion; Wells Fargo (WFC), $13.7 billion; GMAC (GJM), $11.5 billion; and Citigroup (C), $5.5 billion, in the next six months. The results culminated an unprecedented process by the government to test the top 19 banks that control two-thirds of the nation's financial assets.

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So another bailout is looming then!