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How the hell does ANY bank fail a rigged test that doesn't take into account chances of default?????
Bullshit. SON o' bullshit.
I don't believe it. I think this rumour is being spread to cool the EUR and I bet it started somewhere in the vicinity of Soros.
wasn't this a pass/pass stress test anyway?
Yesh. That's why it had to be floated as a rumour. Because the actual results will be gold stars and participation trophies for the whole class.
23 July is a long way away in the world of shorts.
I agree with Renfield, Bullshit.
clearly the europeans didn't get Timmy's drift...NO ONE FAILS. NOT A ONE. how many ways and times do we have to tell them?
Like "No Child Left Behind" Thanks W.
U.S. Banks Recruit Investors to Kill FASB Fair-Value Proposal
Thanks for posting this, I just wrote my letter to the director, asking them to not fall prey to the lobbying and force these banks to deal with these toxic assets instead of allowing them to mark them to whatever price they want to cook their books. Enron revisited.
Double thanks. Check out the absurdity of those fair to carry values. Hell, the proposed MTM change wouldn't even take effect until 2013 . The ABA banksters, therefore, could not survive fair valuation even that far out....!!
A force for truth is at war with the force for ongoing lies. It must be a fucked up time to be an "independent", SEC-endorsed auditor for the banksters. Imagine the stench coming off those balance sheets.
was it denied yet? that way we would know it is the truth.
WTF this is like failing time after time at bat at T-Ball.... Swing and another clean MISS! Cant get any more rigged and still all fail? Hmmm obviously time for another 3% melt-up rally.
BTW didnt OUR stress tests factor in 7% unemployment or something like that? Guess thats no longer relevant.
Must be the reason gold is getting sold and everyone is now piling back into bonds.
I've noticed that "Gold Bitchez" have been quiet lately.
Busy buying on sale.
The ignominy of failing an intentionally rigged stress test must be hard for some people to bear.
I bet there are quite a few Eurozone banks that will collapse if not everything improves all at once soon, which is how the EU defines "stress".
Whatever happens the Greek banks are likely to fail the most important stress test of all, economic reality.
how bad should a bank be to fail a rigged stress test?
I read Stress test as some hybrid bank Triathalon where participants perferm repititious tasks until they drop. I picture whole rows of people speed stamping loan applications with little timers on their desks.
Banks in the U.S. are still failing and that is before the CRE crash which has been postponed by lenders or transfered in the Loss Share Program.
Some 86 banks I think have failed already in the U.S. for 2010 with the projected year end amount to be 178 up from the 130 in 2009..
No wonder Germany didn't want stress tests released to public, rigged or not, they still fail. Greece is just an embarrassment. Spain of course, well, we know that is a lie.
The ECB can't afford a propaganda failure...
Those tests are as rigged as the world cup matches.
Still, the masses cheer for gladiator blood.
Time to give the thumbs down signal for them banks!
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