Nineteen banks underwent so-called stress tests this week, answering a pretty basic question: Will you, dear bank, still have enough money after the ginormous losses you’ve had since the housing market collapsed to get through the expected losses that still lie ahead?
Ten flunked and were told they have to raise money.
Stress? You want stress, dear banks? Try being a mere mortal in this morass. We have our own stress test, you know.
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John Sherffius
May 8, 2009 |
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