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Banks told by Fed to test for 12% unemployment
Market Watch ^ | 11/15/2012 | Ronald D. Orol

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 ...


TOPICS: Business/Economy
KEYWORDS: banks; depression; economy; hardtimes; jobs; layoffs; obama; oppression; recession; unemployment
The Fed stressed they were not making economic forecasts “but rather hypothetical scenarios...

Yeah, uh, huh. And in Obama's world, 12% unemployment is Obamaspeak for 21% actual unemployment.

Brace for impact.

1 posted on 11/15/2012 3:47:57 PM PST by Obadiah
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To: Obadiah

Rev Wright, er, Obama’s chickens coming home to roost.


2 posted on 11/15/2012 3:51:05 PM PST by Jim Robinson (Resistance to tyrants is obedience to God!!)
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To: Obadiah

only 12% unemployment ?


3 posted on 11/15/2012 3:52:40 PM PST by molson209
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To: Obadiah

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.


4 posted on 11/15/2012 3:57:48 PM PST by Sequoyah101
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To: Obadiah

At this rate we’ll be there before Christmas.


5 posted on 11/15/2012 3:58:18 PM PST by bereanway
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


6 posted on 11/15/2012 3:59:50 PM PST by Nachum (The List was hacked- www.nachumlist.com)
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To: Obadiah

Barack is Arabic for Vladimir and Hussein is Arabic for Lenin?


7 posted on 11/15/2012 4:01:01 PM PST by MIchaelTArchangel
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To: Obadiah

House of cards.


8 posted on 11/15/2012 4:04:41 PM PST by APatientMan (Pick a side)
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To: bereanway
No kidding.By inauguration day at the latest.
9 posted on 11/15/2012 4:07:01 PM PST by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: bereanway

At this rate we’ll be there before Christmas.


Maybe before Thanksgiving. I smell a huge SPLAT coming up all over.


10 posted on 11/15/2012 4:08:49 PM PST by txhurl (Once you go Asian, you never miss an equation.)
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To: Obadiah

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.


11 posted on 11/15/2012 4:10:42 PM PST by Gasshog
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To: bereanway

12 posted on 11/15/2012 4:11:15 PM PST by libertarian27 (Check my profile page for the FReeper Online Cookbook 2011)
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To: Obadiah

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.


13 posted on 11/15/2012 4:14:47 PM PST by yefragetuwrabrumuy (DIY Bumper Sticker: "THREE TIMES,/ DEMOCRATS/ REJECTED GOD")
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To: libertarian27

Need someone to ‘shop Obamaville on there.


14 posted on 11/15/2012 4:15:19 PM PST by Obadiah (Americans said, "Give us Barabbas!")
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To: yefragetuwrabrumuy

Okay then. Thanks for the good cheer!


15 posted on 11/15/2012 4:16:52 PM PST by Obadiah (Americans said, "Give us Barabbas!")
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To: MIchaelTArchangel
Barack is Hebrew for "lightning"....or should I say... Lightnin'?
(Old B/W movie goers should get that)

16 posted on 11/15/2012 4:18:06 PM PST by Roccus
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To: Obadiah; Sequoyah101


17 posted on 11/15/2012 4:27:11 PM PST by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: Chode
Corrected!
18 posted on 11/15/2012 4:33:51 PM PST by bayouranger (The 1st victim of islam is the person who practices the lie.)
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To: bayouranger
pretty much...
19 posted on 11/15/2012 4:36:44 PM PST by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: bayouranger
Bwahahahaha... that’s hysterical (as in funny).
20 posted on 11/15/2012 5:02:27 PM PST by Obadiah (Americans said, "Give us Barabbas!")
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To: Obadiah
Rules of Fiscal Cliff club: 1st RULE: You do not talk about Fiscal Cliff. 2nd RULE: You DO NOT talk about Fiscal Cliff. 3rd RULE: If some banker says "stop" or goes limp, taps out the Fiscal Cliff is over for the banker but not the people effected. 4th RULE: Only two jackals from Jekyll Island to a Fiscal Cliff. 5th RULE: One Fiscal Cliff at a time.... 6th RULE: No morals, no honor...jackals code..haha..suckers. 7th RULE: Fiscal Cliffs will go on as long as they have to. 8th RULE: If this is your 1st time at Fiscal Cliff, you HAVE to fail. No worries...it's all fiat anyway.
21 posted on 11/15/2012 5:16:02 PM PST by bayouranger (The 1st victim of islam is the person who practices the lie.)
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To: Obadiah

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.


22 posted on 11/15/2012 5:18:04 PM PST by Flick Lives (We're going to be just like the old Soviet Union, but with free cell phones!)
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To: molson209

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.


23 posted on 11/15/2012 5:24:05 PM PST by ilgipper (Obama supporters are comprised of the uninformed & the ill-informed)
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To: bereanway
At this rate we’ll be there before Christmas.

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.

24 posted on 11/15/2012 5:37:07 PM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: Obadiah

Yup ohole really is turning things around.


25 posted on 11/15/2012 5:43:55 PM PST by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
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To: Obadiah

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.


26 posted on 11/15/2012 5:54:15 PM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Obadiah

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?


27 posted on 11/15/2012 6:26:13 PM PST by gotribe
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To: Obadiah

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.


28 posted on 11/15/2012 6:28:50 PM PST by Karliner ( Jeremiah 29:11, Romans 8:28, Romans 8:38"...this is the end of the beginning."WC)
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To: gotribe

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.


29 posted on 11/16/2012 2:34:11 AM PST by ReaganGeneration2
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To: Obadiah
B T T T ! ! ! ©

30 posted on 11/16/2012 9:06:53 AM PST by onyx (FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
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To: Obadiah

Our Federal Govenment has been taken over by Globalists and Obama is there willing puppet. The Birchers were dead on right.


31 posted on 11/16/2012 1:16:21 PM PST by cowboyusa
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