Updated from 3:38 p.m. ET
Financial stocks were mixed Tuesday, as big names reacted to Capitol Hill testimony from
, Treasury Secretary Timothy Geithner and a report that the federal government is again readying a plan to buy up banks' distressed assets.
Geithner told the House Ways and Means Committee that he is "confident this is the right path for the country." Bernanke told the Senate Budget Committee that Obama's recently enacted $787 billion stimulus package of increased federal spending and tax cuts should help revive consumer spending, boost factory production and "mitigate the overall loss of employment and income that would otherwise occur."
The Wall Street Journal
reported the Obama administration was mulling new funds for a plan to buy banks'
Bank of America
was trading in the black, before Standard & Poor's downgraded its long-term counterparty credit rating in the late afternoon. Despite having been up as much as 12% earlier, the stock more recently was up just two pennies at $3.65.
shares were up 1.7% to $1.22.
shares were down 1.6% to $10.67.
was down 0.7% to $21.01.
, after an up-and-down day, recently was up 1.3% to $18.18.
was down most of the day, recently off 4.5% to $82.37.
This article was written by a staff member of TheStreet.com.