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Investment Banks Begged Fed.Reserve to Lower/Lie About Stress Test Figures

Discussion in 'Political Discussion' started by maverick4, May 9, 2009.

  1. maverick4

    maverick4 Banned

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    Banks Won Concessions on Tests - WSJ.com

    [The Federal Reserve significantly scaled back the size of the capital hole facing some of the nation's biggest banks shortly before concluding its stress tests, following two weeks of intense bargaining.

    In addition, according to bank and government officials, the Fed used a different measurement of bank-capital levels than analysts and investors had been expecting, resulting in much smaller capital deficits.

    The overall reaction to the stress tests, announced Thursday, has been generally positive. But the haggling between the government and the banks shows the sometimes-tense nature of the negotiations that occurred before the final results were made public.]
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    Just like when the former administration fudged numbers to pretend we weren't in recession (only admitting it two years later), most of our banks are actually bankrupt and insolvent right now, and are lying about it.
  2. Real World

    Real World Moderator Staff Member

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    So basically it's meet the new administration, same as the old administration?

    I've talked to a few people who think that the current bump in the market is going to reverse itself shortly. That the data, and the market, are not in sync, and in the next month+, they will be. Who knows, but I found that interesting because of the "positive's" people in the press keep whispering about. Again, who knows.

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