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Fifteen state financial officers sent a letter to U.S. banks last week noting $600 billion in assets they pledge to take elsewhere if the financial institutions embrace corporate wokeism and prohibit financing to the fossil fuel industry. Led by West Virginia Republican Treasurer Riley Moore, the group promised “collective action” in the form of an “economic boycott.” “Just as each state represented in this letter is unique in its governing laws and economy, our actions will take different forms,” they wrote in the letter obtained by The Federalist. “However, the overarching objective of our actions will be the same –...

Stress test shows bank credit losses could be $600 billion Ten of 19 institutions must raise $74.6 billion in private capital by November By Ronald D. Orol, MarketWatch Last update: 7:49 p.m. EDT May 7, 2009 Comments: 942 WASHINGTON (MarketWatch) -- Federal regulators released the long-anticipated, controversial stress tests on the health of the 19 largest financial institutions on Thursday, showing that the banking sector is secure, but under a pessimistic forecast, banks' credit losses over the next two years could be $600 billion.