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Extra Credit Friday Edition

Market Movers

by Felix Salmon
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Feb 14 2009 12:48am EDT

Extra Credit, Friday Edition

Under One Stress Test, Big Banks Look Anemic: If the government's stress test is anything like Creditsights's stress test, then Wells Fargo will need another $119 billion; BofA, $99 billion; JPMorgan, $124 billion; Citi, $101 billion; Goldman Sachs, $47 billion; and Morgan Stanley, $34 billion. That's over half a trillion dollars right there, for those of you counting along at home.

Bankers Face Strict New Pay Cap: Which could apply to as many as 25 executives, if a bank gets more than $500 million in federal money.

To Catch a Thief: Our financial system is run by psychopaths. Literally.

Alexander Hamilton, J.P. Morgan... and Tim Geithner? "Jim "Mad Money" Cramer just sent my head spinning round so fast that my brain became completely unscrewed from my neck and everything I've learned about how the economy (doesn't) work in the last three years evaporated into thin air with an accompanying blasting hiss of boiling steam." That's news?

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