Need for an additional $34B in capital doesn't sound to ME like BofA passed the "stress test"

but, hey...! just crank those printing presses back up and toss 'em another $34B... no sweat... it's just chump change, really...

Bank of America Corp has been deemed to need as much as $34 billion in additional capital, according to the results of a government stress test, a source familiar with the results told Reuters late on Tuesday.

Bank of America spokesman Scott Silvestri declined comment.

A possible $34 billion capital shortfall is certain to increase pressure on CEO Kenneth Lewis, who was last week ousted by shareholders as chairman of the biggest U.S. bank.

That ouster could lay the groundwork for Lewis's eventual departure from the company he worked at for 40 years, including the last eight as chief executive.

It may also unnerve investors who had hoped the results of the stress tests on Bank of America and 18 other banks might show the industry was in less dire condition than had been feared. Shares of major U.S. banks have nearly doubled since bottoming out in early March.

when is somebody going to step in and declare all those bouncing dead cats really DEAD...?

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