April 19, 2009 / 2:57 PM / 10 years ago

Obama advisor Axelrod-some stress-test banks have problems

WASHINGTON, April 19 (Reuters) - A top advisor to President Barack Obama said on Sunday that stress tests of the top 19 U.S. banks would expose some “very serious problems,” but the administration has what it needs to confront the challenge.

“Some are going to have very serious problems, but the tools are available to address these problems,” White House senior advisor David Axelrod told CBS’s “Face the Nation.”

Reporting by Alister Bull; Editing by Jackie Frank

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