90 at 9: Stress test delayed; Chrysler bankrupt; Warren Buffett sombre
4th May 09, 8:41am
Bernard Hickey details the key news over the weekend in 90 seconds at 9 am in association with ASB. The US government has delayed releasing the results of stress tests on America's 19 biggest banks because they are contesting how much extra capital they need, particularly Citigroup, which is reported to need an extra US$10 billion. Meanwhile Chrysler has been put into Chapter 11 bankruptcy protection and the early signs are not good. Its plants have shut down because suppliers will not send parts and dealers are slashing prices because many cannot get cheap finance.