Tweet
This is one of those rare articles that if read between the lines, reveals the near total control of banksters over the political process. Note that it was placed in the business section of the NY Times. I found that it reads like a communique to insiders, disguised as an article in the newspaper.
http://www.nytimes.com/2009/04/09/bu...ss&partner=rss
Regulators say all 19 banks undergoing the exams will pass them. Indeed, they say this is a test that a bank simply will not fail: if the examiners determine that a bank needs “exceptional assistance,” the government, that is, taxpayers, will provide it.
An admission in the paper of record that the results of the phony stress tests were fixed from the start. The point of this is process is what, to placate the general public with cheery press releases?
Regulators recognize that for the tests to be credible, not all of the banks can be winners. And it is becoming increasingly clear, industry insiders say, that the government will use its findings to press certain banks to sell troubled assets. The hope is that by cleansing their balance sheets, banks will be able to lure private capital, stabilizing the entire industry.
Phony regulators know that their phony program is so ridiculously phony that even J6P idiots like me can see through it, so they're going to take another step to make the process appear slightly less phony.
Several people involved in the process say there is a wide range of results among the institutions. Those that fall short will have six months to raise capital from private investors; if they are unable to do so, the Treasury Department has said taxpayer money will be available.
Some federal and industry officials say regulators may use the results to prod reluctant banks to sell assets under that program.
More of the same, "too big to fail" - losses and risk being shifted to U.S. taxpayers and other holders of dollar assets.
The phony regulators will use the results of the phony stress test as the basis for presenting a choice to the banksters that they work for in order to complete this phony process. The banksters can choose to either accept a TARP style bailout that comes with phony compensation rules in place to placate J6P or they sell assets through the PPIP which places almost all of the risk entailed at the feet of J6P.
What a country!
http://www.nytimes.com/2009/04/09/bu...ss&partner=rss
Regulators say all 19 banks undergoing the exams will pass them. Indeed, they say this is a test that a bank simply will not fail: if the examiners determine that a bank needs “exceptional assistance,” the government, that is, taxpayers, will provide it.
An admission in the paper of record that the results of the phony stress tests were fixed from the start. The point of this is process is what, to placate the general public with cheery press releases?
Regulators recognize that for the tests to be credible, not all of the banks can be winners. And it is becoming increasingly clear, industry insiders say, that the government will use its findings to press certain banks to sell troubled assets. The hope is that by cleansing their balance sheets, banks will be able to lure private capital, stabilizing the entire industry.
Phony regulators know that their phony program is so ridiculously phony that even J6P idiots like me can see through it, so they're going to take another step to make the process appear slightly less phony.
Several people involved in the process say there is a wide range of results among the institutions. Those that fall short will have six months to raise capital from private investors; if they are unable to do so, the Treasury Department has said taxpayer money will be available.
Some federal and industry officials say regulators may use the results to prod reluctant banks to sell assets under that program.
More of the same, "too big to fail" - losses and risk being shifted to U.S. taxpayers and other holders of dollar assets.
The phony regulators will use the results of the phony stress test as the basis for presenting a choice to the banksters that they work for in order to complete this phony process. The banksters can choose to either accept a TARP style bailout that comes with phony compensation rules in place to placate J6P or they sell assets through the PPIP which places almost all of the risk entailed at the feet of J6P.
What a country!