Home › Forums › Financial Markets/Economics › Stressless test
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greekfire.
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May 9, 2009 at 8:13 PM #395782May 9, 2009 at 11:30 PM #395846
CA renter
ParticipantDefinitely “Alice in Wonderland” out there.
I’ve resigned to pretty much keeping my mouth shut, because nothing makes sense, and I’m feeling as though I don’t “get it.” Very similar to 2003/2004, when everyone suddenly “got rich” and was buying $500K shacks in O’side and driving new $50K SUVs.
Been hearing plenty of those “all cash” stories (houses, boats, cars, etc.), and have to wonder…is it drug money or ?????
Nothing makes sense right now.
May 9, 2009 at 11:30 PM #396373ParticipantDefinitely “Alice in Wonderland” out there.
I’ve resigned to pretty much keeping my mouth shut, because nothing makes sense, and I’m feeling as though I don’t “get it.” Very similar to 2003/2004, when everyone suddenly “got rich” and was buying $500K shacks in O’side and driving new $50K SUVs.
Been hearing plenty of those “all cash” stories (houses, boats, cars, etc.), and have to wonder…is it drug money or ?????
Nothing makes sense right now.
May 9, 2009 at 11:30 PM #396319ParticipantDefinitely “Alice in Wonderland” out there.
I’ve resigned to pretty much keeping my mouth shut, because nothing makes sense, and I’m feeling as though I don’t “get it.” Very similar to 2003/2004, when everyone suddenly “got rich” and was buying $500K shacks in O’side and driving new $50K SUVs.
Been hearing plenty of those “all cash” stories (houses, boats, cars, etc.), and have to wonder…is it drug money or ?????
Nothing makes sense right now.
May 9, 2009 at 11:30 PM #396097ParticipantDefinitely “Alice in Wonderland” out there.
I’ve resigned to pretty much keeping my mouth shut, because nothing makes sense, and I’m feeling as though I don’t “get it.” Very similar to 2003/2004, when everyone suddenly “got rich” and was buying $500K shacks in O’side and driving new $50K SUVs.
Been hearing plenty of those “all cash” stories (houses, boats, cars, etc.), and have to wonder…is it drug money or ?????
Nothing makes sense right now.
May 9, 2009 at 11:30 PM #396516ParticipantDefinitely “Alice in Wonderland” out there.
I’ve resigned to pretty much keeping my mouth shut, because nothing makes sense, and I’m feeling as though I don’t “get it.” Very similar to 2003/2004, when everyone suddenly “got rich” and was buying $500K shacks in O’side and driving new $50K SUVs.
Been hearing plenty of those “all cash” stories (houses, boats, cars, etc.), and have to wonder…is it drug money or ?????
Nothing makes sense right now.
May 10, 2009 at 2:06 AM #396383Arraya
ParticipantIt’s like there are two separate realities are work here. One has people out spending money (retail) and buying houses and carrying on as though nothing is wrong and the other has people pinching pennies, preparing for the worst and waiting for the other shoe to drop.
What is interesting about this situation is that what is good for the individual is not good for the “system”. Hence, all the perception control in the media to keep up appearances. This is the worst of all situations. The system will do and say anything at this point to get you to believe. Faith based systems don’t last to long when people lose faith.
May 10, 2009 at 2:06 AM #396329ParticipantIt’s like there are two separate realities are work here. One has people out spending money (retail) and buying houses and carrying on as though nothing is wrong and the other has people pinching pennies, preparing for the worst and waiting for the other shoe to drop.
What is interesting about this situation is that what is good for the individual is not good for the “system”. Hence, all the perception control in the media to keep up appearances. This is the worst of all situations. The system will do and say anything at this point to get you to believe. Faith based systems don’t last to long when people lose faith.
May 10, 2009 at 2:06 AM #396107ParticipantIt’s like there are two separate realities are work here. One has people out spending money (retail) and buying houses and carrying on as though nothing is wrong and the other has people pinching pennies, preparing for the worst and waiting for the other shoe to drop.
What is interesting about this situation is that what is good for the individual is not good for the “system”. Hence, all the perception control in the media to keep up appearances. This is the worst of all situations. The system will do and say anything at this point to get you to believe. Faith based systems don’t last to long when people lose faith.
May 10, 2009 at 2:06 AM #396526ParticipantIt’s like there are two separate realities are work here. One has people out spending money (retail) and buying houses and carrying on as though nothing is wrong and the other has people pinching pennies, preparing for the worst and waiting for the other shoe to drop.
What is interesting about this situation is that what is good for the individual is not good for the “system”. Hence, all the perception control in the media to keep up appearances. This is the worst of all situations. The system will do and say anything at this point to get you to believe. Faith based systems don’t last to long when people lose faith.
May 10, 2009 at 2:06 AM #395856ParticipantIt’s like there are two separate realities are work here. One has people out spending money (retail) and buying houses and carrying on as though nothing is wrong and the other has people pinching pennies, preparing for the worst and waiting for the other shoe to drop.
What is interesting about this situation is that what is good for the individual is not good for the “system”. Hence, all the perception control in the media to keep up appearances. This is the worst of all situations. The system will do and say anything at this point to get you to believe. Faith based systems don’t last to long when people lose faith.
May 10, 2009 at 2:07 AM #396324ParticipantThese tests were like a crash test done at 15 mph with no test done at 30, 50 or so on. The banks wanted a test done at 1 or 2 mph for public appearances. When it looks like we are going to crash at 80. So you can see where this will go.
When the Fed last month informed banks of its preliminary stress-test findings, executives at corporations including Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. were furious with what they viewed as the Fed’s exaggerated capital holes. A senior executive at one bank fumed that the Fed’s initial estimate was “mind-numbingly” large. Bank of America was “shocked” when it saw its initial figure, which was more than $50 billion, according to a person familiar with the negotiations.
I do think it was the the banks complaining about the stressfulness of the tests though. Which Ironically, will be tremendously off in the other direction.
The fed was a little more correct on this one but the banks wanted a rally so they bargained for a better number.
The whole thing was just a publicity stunt that means nothing. If these guys built bridges we would be dead.
May 10, 2009 at 2:07 AM #396378ParticipantThese tests were like a crash test done at 15 mph with no test done at 30, 50 or so on. The banks wanted a test done at 1 or 2 mph for public appearances. When it looks like we are going to crash at 80. So you can see where this will go.
When the Fed last month informed banks of its preliminary stress-test findings, executives at corporations including Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. were furious with what they viewed as the Fed’s exaggerated capital holes. A senior executive at one bank fumed that the Fed’s initial estimate was “mind-numbingly” large. Bank of America was “shocked” when it saw its initial figure, which was more than $50 billion, according to a person familiar with the negotiations.
I do think it was the the banks complaining about the stressfulness of the tests though. Which Ironically, will be tremendously off in the other direction.
The fed was a little more correct on this one but the banks wanted a rally so they bargained for a better number.
The whole thing was just a publicity stunt that means nothing. If these guys built bridges we would be dead.
May 10, 2009 at 2:07 AM #396521ParticipantThese tests were like a crash test done at 15 mph with no test done at 30, 50 or so on. The banks wanted a test done at 1 or 2 mph for public appearances. When it looks like we are going to crash at 80. So you can see where this will go.
When the Fed last month informed banks of its preliminary stress-test findings, executives at corporations including Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. were furious with what they viewed as the Fed’s exaggerated capital holes. A senior executive at one bank fumed that the Fed’s initial estimate was “mind-numbingly” large. Bank of America was “shocked” when it saw its initial figure, which was more than $50 billion, according to a person familiar with the negotiations.
I do think it was the the banks complaining about the stressfulness of the tests though. Which Ironically, will be tremendously off in the other direction.
The fed was a little more correct on this one but the banks wanted a rally so they bargained for a better number.
The whole thing was just a publicity stunt that means nothing. If these guys built bridges we would be dead.
May 10, 2009 at 2:07 AM #395851ParticipantThese tests were like a crash test done at 15 mph with no test done at 30, 50 or so on. The banks wanted a test done at 1 or 2 mph for public appearances. When it looks like we are going to crash at 80. So you can see where this will go.
When the Fed last month informed banks of its preliminary stress-test findings, executives at corporations including Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. were furious with what they viewed as the Fed’s exaggerated capital holes. A senior executive at one bank fumed that the Fed’s initial estimate was “mind-numbingly” large. Bank of America was “shocked” when it saw its initial figure, which was more than $50 billion, according to a person familiar with the negotiations.
I do think it was the the banks complaining about the stressfulness of the tests though. Which Ironically, will be tremendously off in the other direction.
The fed was a little more correct on this one but the banks wanted a rally so they bargained for a better number.
The whole thing was just a publicity stunt that means nothing. If these guys built bridges we would be dead.
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