European Bank Stess Test Joke: This Insolvent Euro-Bank and Group of Central Bankers Met at a Bar and…

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Sat, 07/24/2010 - 07:16 | 486601 THE DORK OF CORK
THE DORK OF CORK's picture

There was a time when the Irish could at least organise a good piss up.

Now because of the fascist health police we cannot even play to our strengths.

Sat, 07/24/2010 - 06:14 | 486586 nathan1234
nathan1234's picture

“.

Now that the stress tests have been done you can expect a new issue of Derivatives to be sold to new suckers.

Thats the game being played!

Sat, 07/24/2010 - 01:36 | 486537 RoRoTrader
RoRoTrader's picture

That is a snot kicking hit, Reggie........what else is there to say?

Sat, 07/24/2010 - 00:17 | 486493 unionbroker
unionbroker's picture

great! now we have a real competition going in the race for the bottom

Sat, 07/24/2010 - 05:15 | 486383 Goldenballs
Goldenballs's picture

And lo it came to pass in the Valley of the Stress tests a Miracle occurred in that everything that was broken was mended and when the men in suits had gone,shortly after everything collapsed as no one realised that the fresh paint had masked the rust that for years had been eating through the system and as soon as real stress was placed on the system it presently collapsed.

 Bad money drives out good.

 

Fri, 07/23/2010 - 21:28 | 486370 DoctoRx
DoctoRx's picture

Reggie:  You left the "r" out of "stress" in the title.

Then of course, maybe the typo was fine-- as it wasn't a stress test in any case.  I may have given tougher stress tests to old men in my cardiology practice.

Fri, 07/23/2010 - 20:17 | 486322 Racer
Racer's picture

ECB's Nowotny says EU stress test was tighter than US bank test

Well hurray for that... now that is good for a million point rally on the markets.

 

 

Doctor, doctor, I have a huge growth on my leg that is bleeding and looks really nasty

Don't worry, open wide and say AHHHHH....

My diagnosis is that your tonsils are perfect. You can talk, and you are alive and very well

Fri, 07/23/2010 - 20:05 | 486317 AUD
AUD's picture

Gold down in Euros too. I guess there are no problems after all.

Fri, 07/23/2010 - 18:46 | 486260 Thorny Xi
Thorny Xi's picture

When reality is uniformly swept, under rugs or anywhere else, there is no problem as long as people don't go under the rugs.

Fri, 07/23/2010 - 17:20 | 486165 tahoebumsmith
tahoebumsmith's picture

Well this is good news! I guess they can give back the trillion dollar bailout from the IMF seeing how they don't need it.. Kinda reminds me of the Dubai crisis, swept under the rug, no problems here.

Fri, 07/23/2010 - 15:09 | 485976 MarketFox
MarketFox's picture

RM...another home run....

.............................

Seems like justice is a rather loose term...

How about FRAUD....?

How about accountability....?

Seems like the government is aiding and abetting FRAUD....

 

Purposefully inaccurate accounting standards...utilized for the sole purpose of not wanting to fully disclose....for monetary reasons....

 

 

Sat, 07/24/2010 - 07:57 | 486613 mikla
mikla's picture

+1

I don't even know where to begin here:  REGGIE DOES THE MATH.  Apparently bank presidents, "Risk Managers", auditors, regulators, "reporters", financial "analysts", ratings agencies, and central banks DO NOT do the math.

I be lovin' my Reggie.  I be not sharin' my lovin' for those other groups, who daily show their incompetence, criminal negligence, and travesty of existence against the suffering populace.

When I'm President (or Benevolent Unquestioned Dictator), I'll make Reggie my Treasury Secretary simply because he can use both fingers and toes to count, apparently unlike these quadriplegics that merely "deem" a number with no substance.

Fri, 07/23/2010 - 14:39 | 485903 hooligan2009
hooligan2009's picture

well now...CNBC is reporting that banking analysts globally have access to a line by line list of individual bonds per European bank for both the trading and non-trading books. If true, this makes the regulators and stress tests used for the US banking system a farce for not publishing the same level of detail.

We can now view and do our own stress tests at any level of stress for any European bank. This is the flip side if the scam that goes for US bank reporting. It is the positive of regulatory arbitrage.

US regulators don't dare require US banks to be transparent. European banks are now fully transparent.

Wonder how long it will be before we get the same level of disclosure at the central banks of the Fed and the ECB.

Who is going to win the race of a) a rational stress test that reflect the different business models of each bank and b) develops a fair value model that translates bank fails of stress tests into the zombie corporates who rely on bank (and state funding) to propagate a failed business plan?

Maybe there's a dodge (sic) to allow GM to buy out Apple.

Fri, 07/23/2010 - 13:51 | 485805 InconvenientCou...
InconvenientCounterParty's picture

Perception vs. reality: The whale of recoupling trades. tick tock....

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