
The Federal Reserve and U.S. banking regulators will reveal the results of the stress tests on the country’s 19 largest banks on May 7 after financial markets close, according to a government official.
The government will unveil both aggregate information about the capital buffer required to absorb losses if the recession worsens and firm-specific details, the official said on condition of anonymity. Regulators had initially planned to make their announcement on May 4.
OK, date change. I guess the banksters were so busy strangling cram-down they didn't have time to deal with the Fed too....
The delay follows an internal debate among regulators about how best to reveal to markets the health of the biggest banks, information usually reserved for bank examiners. ...
Uh huh.
Regulators have said the tests aren’t pass or fail [so why are they tests, then?] and are aimed at ensuring lenders can maintain a solid capital base and sustain lending during any worsening of the economy. Fed Chairman Ben S. Bernanke, a Great Depression scholar, has said a sustainable recovery isn’t possible without a stable financial system.
Except Bernanke seems to identify a stable financial system with preserving existing banks and banksters. Not the same! In fact, the financial system would be a lot more stable if we turned the banks into regulated public utilities.
No matter how much blood you pump into a zombie, it's still a zombie!
If you liked this post, buy the author some books.- lambert's blog
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"so why are they tests, then"
The point's been made to us before that Obama is the president of the generation where all the kids got "participant" awards.
Being judgmental, whether it's prosecuting crimes or putting scores on tests, is so last century, grandpa!
Ha!
Good one, Lambert!
Translate, the "tests" are for the allocation of the Treasury to the private sector. They aren't "tests" they are veiled requests, if even veiled, at all. The tests are for the facilitation of the Big Give.
But, we've always been at war with Eastasia...