Because the only thing that’s changed is they relaxed mark to market. Not that it shouldn’t have been changed, but it’s smoke and mirrors. Bottom lines of banks may look better for the “stress test” now, but if unemployment keeps increasing (which it is) and foreclosures rise, their easing of mark to market will give a rosier picture than a true measure of how things actually are with the banks and toxic assetts. And isn’t that what got us into this mess in the first place, LOL.
Yes and no.
It is to some degree smoke and mirrors but it's that very same smoke and mirrors have caused the banks to fail, for it literally devalued their books.