With the release last week of the results of the much-anticipated Supervisory Capital Assessment Program (“SCAP”) – or stress test – of the country’s nineteen largest banks, there seems to have been a collective sigh of relief that matters were not much worse than disclosed. Some of these banks already have announced plans to go to the market to raise capital to meet the targets set for them and others have expressed confidence that they can earn enough during the rest of 2009 to meet those targets.

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