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Don’t Stress Out
Bear Mountain Bull —
None of this information should come as any surprise to you. The notion that the government is going to ’stress test’ the banks and then tell you that any of them failed is completely absurd. Even if a bank or banks were to come up with poor scores, do you think that the gov’t would admit it in public? Don’t be silly. This post at TBP says that the stress tests are a complete sham . Of course they are. “There is no real purpose [of the stress test] other than to fool us. To make us chumps,” Black says. Noting policymakers have long stated the problem is a lack of confidence, ...
Friday links: preventing future incompetence
Abnormal Returns —
... The Fed wants banks to remain silent on the results of the not-so-stressful “stress tests.” (24/7 Wall St., Dealbreaker, Big Picture, Curious Capitalist)
After being the beneficiary of any number of emergency measures, Goldman Sachs (GS) is set to sell equity (and get out from under a government loan). (WSJ.com)
Is the Obama administration in Wall Street’s back pocket? ( ...
