> http://www.rgemonitor.com/roubini-monitor/256382/stress_testing_the_stress_test_scenarios_actual_macro_data_are_already_worse_than_the_more_adverse_scenario_for_2009_in_the_stress_tests_so_the_stress_tests_fail_the_basic_criterion_of_reality_check_even_before_they_are_concluded
>
> The spin machine about the banks’ stress test is already in full motion;
> some banking regulators have already leaked to the New York Times the
> spin that all 19 banks who are subject to the stress test will pass it,
> i.e. none of them will fail it.
>
> But if you look at the actual data today macro data for Q1 on the three
> variables used in the stress tests – growth rate, unemployment rate, and
> home price depreciation – are already worse than those in FDIC baseline
> scenario for 2009 AND even worse than those for the more adverse stressed
> scenario for 2009. Thus, the stress test results are meaningless as
> actual data are already running worse than the worst case scenario.
I'm afraid Doug is right about the Dems. They're going to try to exchange $8 trillion of taxpayer funds for Wall Street toxic waste, and pay for the bill by foisting an austerity packages on US citizens.
Unless we stop them.
-- DRR