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Monday, April 20, 2009

Were Bank Stress Tests Really Leaked?

A blog site named Turner Radio Network claims to have seen the leaked results from the bank stress tests and says that the results are "very bad."

I'm extremely skeptical about the claims. Still, let's go back to the point of the stress tests: is it to add this type of speculation to an industry that only needs a rumor to collapse? If that's the point, then the government seems to be achieving its objective. On the other hand, if the results show strength, then just release the results now instead of saying that they "may" release results in early May. What confidence does this inspire? Once again, a clueless and incompetent government...

*Update*
Sure enough, the financials got clobbered today in the market, despite pretty good earnings across the board from major banks - all because of worries about this idiotic and useless "stress test" schemed up by a few incompetents in Washington.