12 ET euro fireworks Source European Central Bank Description Results of the bank stress test will be released, including which banks passed, which failed, and estimates for new capital requirements. The banks being tested constitute 65% of the European Union's total banking assets; FF Notes The stress test applies synthetic market conditions to the balance sheets of 91 large banks in an effort to determine the banks' stability and whether capital reserves are sufficient;
Hahaha... Obama speaking in 5 minutes, any guesses? Holy f... traps to the left, traps to the right...
stress tests weighing on EURO and tropical storm Bonnie making landfall with 40 mph - believe we will be lower going into the close
Just wondering. Did any of the large Wall street banks fail the stress test last here in the USA? No. The reason wasn't so much that they had enough cash cushion, let alone healthy, but the government kept changing the accounting rules and infusing money through TARP. So just what the hell are we to expect from our European breathren? Are they really going to tell the public if one of their largest banks failed the test? Moreover, will they shut them down like they do with community banks on a weekly basis? I don't think so. I don't want to sound more cynical than I need to but exactly what the hell is purpose of these stress tests if they have no intention of doing anything about it other than to use taxpayer money to prop up rotten banks?
So true. Former Spanish finance minister Rato did nothing but cheer on during the real estate bubble in Spain, people getting 40-year mortgages for 120% of the "value" of their properties while rates were at 2%... then a few months ago he's "appointed" as CEO of one of the largest cajas (CajaMadrid) and first thing he does? That m.f. asks for a bailout to cover up CM's real estate losses, arguing that not doing so would make the bank go bankrupt, thus erasing hard working people's savings... I wanna puke
This is just another gimmick to fool the public. It's like saying "hey, governments all over the world are looking into the problem systematically, so it must be a bona fide conclusion." Hell it is. Governments are the one who are practically failing and they have all the vested interests to cover up the truth of the matter.