We've long said that it would be colossal if the government gave TARP banks a clean bill of health only to watch them tank anew. The fact is that there is no public money left for them. The Congressional Oversight Panel, which keeps tabs on the bailout of the financial sector, has raised that specter.

"If the economy worsens...then defaults will rise and the troubled assets will continue to deteriorate in value," says the report, as noted by CNNmoney. "If the losses are severe enough, some financial institutions may be forced to cease operations."

So even big banks are not in the clear just yet. Among the top 19 banks, the report found $657.5 billion in "level 3" assets in the first quarter of 2009, a 14.3 percent rise from the previous quarter.   

For more:
- here's the article

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