ernst-and-young

Wall Street: Tuesday Morning

cityfile · 04/28/09 05:25AM

• Not such good news for Bank of America and Citigroup this morning: It looks like both have come up short on the so-called stress tests conducted by regulators and may be forced to raise billions in additional capital. [WSJ]
• Will Ken Lewis hang on as Bank of America's CEO when shareholders meet this week at the bank's annual meeting? It's a toss-up at the moment. [NYT]
• The Justice Department is investigating three AIG execs for committing securities fraud and a range of other financial crimes. [CBS News]
• The SEC is investigating 150 hedge funds, including various "Ponzi schemes and misappropriations," according to the agency's chief Mary Schapiro. [DB]
• Not such a hot idea: Mary Schapiro says she's now Twittering. [LAT]