JP Morgan passes, all else ‘fails’

From Bloomberg?:

JPMorgan Chase & Co., the second- largest U.S. bank by assets, is the only lender among 12 commercial banks being stress-tested by the government that probably won’t need more capital, Friedman, Billings, Ramsey Group Inc. analyst Paul Miller wrote to clients today.

All the commercial banks may need capital under a “more adverse” scenario, Miller wrote.

Take note, however, that this does not include former-investment-banks-turned-bankholding-companies Goldman Sachs and Morgan Stanley.

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