Next time your broker calls you and tells you you have a margin call on your short in stock XYZ, tell them you refuse to comply as you have it "marked to maturity", and on a long enough timeline, every stock will go to zero. This is precisely what (technically the inverse) German banks DG and WGZ, which had previously refused to post the details of their stress test "passage" did in order to pass the "Stress BS." Dow Jones reports: "WGZ's disclosure showed that it had accounted for almost all of a EUR35 billion portfolio of sovereign bonds as "held to maturity," thus avoiding the need to subject them to the discounts required by the "sovereign risk shock" in the tests." As we had previously expected, all banks would promptly reclassify their worst debts (Greek and Spanish exposure) as their best: i.e., as part of the Held to Maturity book. This is precisely what happened, and why Europe is still as insolvent as ever. And get this: 'bonds held in the banks' trading books were subjected to theoretical markdowns of up to 23% in the case of Greece, but the regulators didn't apply that to long-term assets, as that would have implied recognition of the possibility of a sovereign default--something they said was "unthinkable."' So the test tested for everything except for the all too real six sigma events that blew up Bear Stearns, Lehman, AIG, Merrill, WaMu, RBS, Northern Rock, Hypo, and the 7 or so banks to go tits up each week in the US (what is the latest MTD tally on bank failures in the US: 100? 1,000?), not to mention every bank in the world had the US taxpayer not involuntarily bailed them all out... And since this is precisely the same stress test architecture that the one and only tax cheat #1 created in the US a year ago, one can only imagine the level of scammery involved domestically, which had even less testing disclosure than in Europe.