Why do they bother to stress test at 13% unemployment when the real unemployment is more like 20%? http://www.reuters.com/article/2012/03/13/us-usa-bank-stresstests-instant-idUSBRE82C1AQ20120313
And so now, the Fed is releasing the results of the stress tests two days early. Seriously, what type of breakdown do we have here when the Fed releases this news early. Something is wrong. Do you think this type of BS would have happened with Greenspan? Maybe Bernanke is cracking up or losing control of his people. Maybe the stress test is a bunch of bogus bs.
The Relationships Between Wall Street, the Fed, and Politicians Are Crumbling http://gainspainscapital.com/ 1) Key Wall Street players hiring famed defense attorneys (Lloyd Blankfein of Goldman Sachs) in preparation for future litigation. 2) The Fed distancing itself from its responsibility for the Crisis by: Suing Goldman Sachs Opening itself to Q&A sessions and townhall meetings Having âpro Fedâ editorials written in the Wall Street Journal Putting the blame for the Crisis and the USâs financial weakness on Congressâs shoulders 3) Various members of Congress (especially Ron Paul) and GOP Presidential candidates taking aim at the Federal Reserve. ------------- By including the âwith Fed approvalâ phrase he made it appear that the Fed is in charge of JP Morganâs business. However, by announcing that he wanted to raise JPMâs dividend and issue a buyback program he: 1) Implicitly stated that JPM was in great shape and would pass the Fed stress test with flying colors. 2) Indicates that JPM was depleting its capital, which goes against the Fedâs supposed claims that it wants banks to raise capital. 3) Shows whoâs really running the show in the markets (the Fed had to speed up the release of its stress test results as the other large banks released similar leaks to the press).