Late news from the bank and airline industries found analysts in surly moods.
Goldman Sachs issued a report saying US banks will have to raise as much as another $65 billion. According to Reuters, "The new capital would be on top of $120 billion already raised by the industry." The brokerage cut its price targets on sixteen banks including Wachovia (WB) and Washington Mutual (WM).
Not to be outdone, the airline industry said it would lose $10 billion this year. The Air Transport Association said total fuel costs for domestic carriers will hit $61 billion.
Douglas A. McIntyre
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