Banks still need bigger cushions (Q2 TCE update)

``Thanks for the recent improvement go to Treasury Secretary Tim Geithner, whose stress tests forced the big banks to raise capital. But they haven’t raised enough. As unemployment rises, charge-offs on credit card and other consumer loan portfolios will accelerate. As property values stay depressed, impairments on mortgages and home equity loans will increase substantially.These losses will eat through banks’ small capital cushions quickly.''