Skip to comments.Banks told by Fed to test for 12% unemployment
Posted on 11/15/2012 3:47:54 PM PST by Obadiah
The Federal Reserve is asking 30 big banks to make sure their capital can withstand a deep recession in which the unemployment rate rises to 12%.
The Fed, which first required big banks to conduct stress tests in 2009, laid out three scenarios lenders have to test against. The goal is to ensure that the firms have enough capital to continue operations during stressful economic times.
(Excerpt) Read more at marketwatch.com ...
Yeah, uh, huh. And in Obama's world, 12% unemployment is Obamaspeak for 21% actual unemployment.
Brace for impact.
Rev Wright, er, Obama’s chickens coming home to roost.
only 12% unemployment ?
Assume the brace position. Bend over and kiss your .... goodbye because this crate is going down.
Obastard is in the cockpit and if there is any justice he will be the first to feel the impact. The rest of us are being taken along for the ride.
Good luck. I hope to see you in the survivors circle.
At this rate we’ll be there before Christmas.
The list, Ping
Let me know if you would like to be on or off the ping list
Barack is Arabic for Vladimir and Hussein is Arabic for Lenin?
House of cards.
At this rate well be there before Christmas.
The District of Criminals and their Media Posse have been lying all along. Now that Obie Won is in the drivers seat for 4 more years the veil of deceit will be dropped.
I hope everybody that voted for Mr. 19th Hole that isnt a hard leftist, but just thinks he so cool - feels the full impact of how they were used and fooled by the Rat party when the hard times hit.
They are hitting 100,000’s already and its going to get worse.
At 12%, I think a U6 of 21% is optimistic. Because after an extended period of high unemployment, I would expect the U6 curve to rise faster than basic unemployment. My guess? At 12% basic unemployment, the U6 could be from 24% to 30%.
More so, large parts of the retail economy will go “off line”, for things like barter and semi-barter transactions. Some municipalities will develop scrip markets (which were used hundreds of times during the GD), as they are a big plus at a local level.
Need someone to ‘shop Obamaville on there.
Okay then. Thanks for the good cheer!
12% unemployment; the new normal. Then Obama can fudge the number down to 11.8% unemployment just before he runs for this 3rd term; because there is just so much more that needs to be done.
That damn Bush guy. Will it never end.
On a side note, at some point, I wish Bush would go on a major comedy show...Tonight Show or similar, and just make some sort of funny comment about being blamed for the world’s every ill. It would resonate.
You have no idea how close to the truth you are.
I work at one of the big-30 banks in this country. This story is FACT. We've had the regulars in our bank 3 weeks running now looking at our loan portfolio's.
When it gets UGLY, it's going to get VERY ugly in a big hurry. Pay attention to all the layoff notices. What's going on with Hostess right now is going to seem like small potato's by the end of January.
Yup ohole really is turning things around.
Not sure in see the issue here. I run financial/economic models for a living and we insistently run “worst case scenarios” to see where we would be from a very poor economic environment. Pretty standard stuff here.
So which is it, Ben: the banks have enough capital to lend but aren’t or they need to hang onto their capital because your QE is an epic fail about to slam us?
HOO RAH Obama won the election, do the shackles hurt yet? Get ready because either he implodes or it’s going to get a heck of a lot worse. God help us. We need real leaders. Danged if this wasn’t the 18th or even 19th century when duals and hanging scumbags was a rule of law.
This method of pumping (fake) $ into the banks (not printing directly) has never been tried in history at this massive scale. At least monopoly money is paper. This is $2T of.... bits.
The stress test is to test the waters for the fiscal cliff.
Our Federal Govenment has been taken over by Globalists and Obama is there willing puppet. The Birchers were dead on right.
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