Geithner says major banks have raised $56 billion
Associated Press Writer= WASHINGTON â€'' Declaring that the financial system was ``starting to heal,'' Treasury Secretary Timothy Geithner said Wednesday that major banks had raised $56 billion since stress tests showed several in need of more capital â€'' a sign of emerging investor confidence.
Banks in Ireland have to raise $43 billion in capital as lending remains dry in the economy, this announcement came after the National Asset Management said it is discounting 47% on the first loans is it purchasing from lenders as a way to provide tranquility in the financial system.