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 ...
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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