23 July 2010

Euro Banks Pass Phony Stress Tests, Just Like Our Banks Did

Just 7 banks out of 91 failed the Euro Zone stress tests, with only one German bank, which was nationalized a year ago for insolvency, and one Greek bank were deemed insufficiently capitalized.

Once again, like Geithner's banking theater, we see a phony stress test, with the results tailored to protect the banks, not inspect the banks.


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