Stressless test

[Arraya]

These 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.

[34f3f3f]

Goal posts been moved so many times, they decided to put ’em on runners, so you can now kick blindfolded and still score.

[34f3f3f]

Goal posts been moved so many times, they decided to put ’em on runners, so you can now kick blindfolded and still score.

[34f3f3f]

Goal posts been moved so many times, they decided to put ’em on runners, so you can now kick blindfolded and still score.

[34f3f3f]

Goal posts been moved so many times, they decided to put ’em on runners, so you can now kick blindfolded and still score.

[34f3f3f]

Goal posts been moved so many times, they decided to put ’em on runners, so you can now kick blindfolded and still score.

[SD Realtor]

Heeheheh

That got a laugh out loud from me querty!

[SD Realtor]

Heeheheh

That got a laugh out loud from me querty!

[SD Realtor]

Heeheheh

That got a laugh out loud from me querty!

[SD Realtor]

Heeheheh

That got a laugh out loud from me querty!

[SD Realtor]

Heeheheh

That got a laugh out loud from me querty!

[davelj]

[quote=Arraya]Faith based systems don’t last to long when people lose faith.

[/quote]

Every system is faith based. Every single one of them. Even the gold standard. You do realize that we had major depressions during the 19th century before our current fiat system and even without huge amounts of debt relative to GDP, right? If folks stop believing in aggregate that the next 10 years is going to be better than the last 10 – even if just marginally better – then things go south – gold standard, fiat system, cigarette bartering, whatever. That’s just the way economies work within the context of the psychology of the masses.

All you’re really saying is that every system of commerce since credit was invented had an enormous element of faith intertwined into it. Otherwise, credit wouldn’t exist. That’s a blinding glimpse of the obvious.

[davelj]

[quote=Arraya]Faith based systems don’t last to long when people lose faith.

[/quote]

Every system is faith based. Every single one of them. Even the gold standard. You do realize that we had major depressions during the 19th century before our current fiat system and even without huge amounts of debt relative to GDP, right? If folks stop believing in aggregate that the next 10 years is going to be better than the last 10 – even if just marginally better – then things go south – gold standard, fiat system, cigarette bartering, whatever. That’s just the way economies work within the context of the psychology of the masses.

All you’re really saying is that every system of commerce since credit was invented had an enormous element of faith intertwined into it. Otherwise, credit wouldn’t exist. That’s a blinding glimpse of the obvious.

[davelj]

[quote=Arraya]Faith based systems don’t last to long when people lose faith.

[/quote]

Every system is faith based. Every single one of them. Even the gold standard. You do realize that we had major depressions during the 19th century before our current fiat system and even without huge amounts of debt relative to GDP, right? If folks stop believing in aggregate that the next 10 years is going to be better than the last 10 – even if just marginally better – then things go south – gold standard, fiat system, cigarette bartering, whatever. That’s just the way economies work within the context of the psychology of the masses.

All you’re really saying is that every system of commerce since credit was invented had an enormous element of faith intertwined into it. Otherwise, credit wouldn’t exist. That’s a blinding glimpse of the obvious.

[davelj]

[quote=Arraya]Faith based systems don’t last to long when people lose faith.

[/quote]

Every system is faith based. Every single one of them. Even the gold standard. You do realize that we had major depressions during the 19th century before our current fiat system and even without huge amounts of debt relative to GDP, right? If folks stop believing in aggregate that the next 10 years is going to be better than the last 10 – even if just marginally better – then things go south – gold standard, fiat system, cigarette bartering, whatever. That’s just the way economies work within the context of the psychology of the masses.

All you’re really saying is that every system of commerce since credit was invented had an enormous element of faith intertwined into it. Otherwise, credit wouldn’t exist. That’s a blinding glimpse of the obvious.

[Author]

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