6/24/2008

U.S. banks continue to face write-downs and losses, forcing them to raise fresh capital. However, financial institutions' fundraising options are beginning to shrink, prompting them to dilute the holdings of existing investors and pay more for capital. From the third quarter of last year to last Friday, banks in North America reported $175 billion in losses and had raised $158 billion, according to JPMorgan Chase. Now, Goldman Sachs analysts estimate that second-quarter losses will force the institutions to come up with an additional $65 billion.

Full Story:
Financial Week

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