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good interview with market commentator peter grandich on the financial condition of the u.s., gold, silver, equity market: http://www.youtube.com/watch?v=4XtH28M3Bbc
Hypo Real Estate, you must be joking...
Good job Allied Irish is in there, I'd hate to think they might not have been properly tested.
I'm stressed just thinking about it...
Good point H - Stress Testing Allied Irish is like stress testing a cadaver & lying about the fact that it even has a PULSE -
all the breaking strain of a damp Kleenex...
Raise intereset rates, home prices fall, bank assets base declines....get ready for wave 2
Exactly who is the EU doing this kabuki theatre for anyway?? So CNBC commentators don't have to feel guilty as they are telling Mr. and Mrs. America to throw their last dime into some garbage ETF?? I mean who exactly is going to buy this horse shit??? Is this so Cramer can claim he wasn't the only jackass pulling numbers out of his ass?
I knew it was all real when I saw Royal Bank of Scotland in there.
A fine institution if ever there was one...not.
Dexia and KBC in Belgium is an old joke, unless something magical has happened to books. Landesbank in Germany supposedly dicy on RE Spain/Ireland, but who knows details so well hidden. As BNP -Paribas probably the most exposed frog for same reasons. Deutsche bank ???
Ask the Oracle of Omaha-Obama, he knows all, like Soros of Bretton Woods, NH. Unfortunately the EU countries do have command economies in vital state run sectors like energy where price is a pipe-dream that can be reprogrammed at the drop of a king/queen's hat.
The next crash is unforeseeable. They are all unforeseeable. See?
It's all good. No, it's all Great.
Well, the Greatness is foreseeable. It's the bad stuff that's unforeseeable. See?
any idea how those and not other banks were chosen ???
If the banks were required to mark to market on their RE loans in Greece, Ireland, Portugal, Spain...etc.. for starters they would be no need to stressless test already failwed banks. Much of this is a perception and paperwork act to fall back on to prevent lawsuits and the public ire. In other words: " See, we even stress tested, how could we havew known". The Perception is reality Ponzi goes on and on and on, ad infinitum, but it keeps the lawyers and accountants busy.
The real farcical aspect of the last round of stress tests was that the market reacted positively to the results . I remember trading the euro crosses at the time and thinking to myself " man , these tests are a complete joke , there's no way investors are going to swallow this contrived tripe ." How wrong I was . Confidence was restored ( at least for a while ) and the euro carried on upwards . Of course their true worth was exposed only months later when the entire Irish banking sector had to be nationalised .
The real reason it is irrelevant is the usury/sinecurist class that did not earn the money but inherited it or printed it. The ability to bury their wealth around the world is symptom of political graft ( include bribery, extortion, cronyism, nepotism,patronage, and embezzlement). Notice UBS and Credit Suisse on the list? Nonsense will end as will the FED. The only question left is what will replace it. It has been a very interesting week Steinhardt , Trump, shutdown, BLS counting problem, and the spin masters fighting transparency.
They're just following the U.S. model. It worked a couple times, might as well abuse it 'til it's useless anymore.
exactly...screw the Euro banks though, they're just as dumb if not dumber than us
I don't think there is anyone in the entire US that doesn't already know the 11th hour stick save is coming tonight for the budget. S&P gets ramped today +15 or better, then on Monday after the stick save is announced tonight, they push it up another +40 up to the 1400 level
Benny has planned this from the start. I mean really the amount of money Congress is supposedly fussing over is like me and you fighting over a $5 bill. WTF? It's all planned drama for the stawk mawket as Bawney Fwank wud say.
Noun: A television or radio drama series dealing typically with daily events in the lives of the same group of characters.
Since Portugal wasn't supposed to fail according their "thinking" when the model for round 2 was released, why even bother running the tests if they have not updated the model to reflect lessons learned from their failure on Portugal?
Alternatively, if the ECB wanted to publicaly admit to its fetish for lying to the public... wait ... never mind.
What are the points of these tests anyway? they sure as hell didn't prove anything with Ireland and don't look to be doing anything useful here either. what a sham.
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