More Evidence that the Fix Was In on the Stree Tests

As Peter Boockvar observes, they can raise the capital through a simple accounting trick

Considering that they’ve already received $45b in preferred stock from the US taxpayer, an accounting maneuver of converting that to common can, Voila, cure their capital needs without raising a penny of new money, a move that even the magician David Copperfield would be in awe of.

Just delightful.

Everyone gets a gold star, and all the test takers are cheating.