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Believe it or not, traders hit the buy button as another round of these borderline absurd stress...

Believe it or not, traders hit the buy button as another round of these borderline absurd stress tests (full report) apparently don't say the world is ending. The S&P narrows its loss to 0.3%, The euro climbs 50 pips to $1.2889. Oliver Wyman - the audit firm which carried out the exams - proclaimed Anglo Irish Bank the "best bank in the world" in 2006.
Comments (6)
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    Rapidly changing sentiment rules the markets.
    28 Sep 2012, 12:28 PM Reply Like
  • Zanalyst
    , contributor
    Comments (78) | Send Message
     
    "Absurd stress tests" - exactly.

     

    Had the same criteria used in the current "stress tests" been applied to banks in Q2-2008, BAC and C would have been among the "best banks in the world".
    28 Sep 2012, 12:31 PM Reply Like
  • wapiti
    , contributor
    Comments (711) | Send Message
     
    Ben and the fed (PPT) buying futures to window dress the qtr and keep the "wealth effect" theory working! Wait till they chickens come home to roost! Ben will be long gone! Just like Greenspan
    28 Sep 2012, 12:39 PM Reply Like
  • J 457
    , contributor
    Comments (951) | Send Message
     
    You got that right Wapiti. The chickens ARE coming home to roost and Oct is going to be a doozy month. Now that the QE momentum is gone the sellers will return in mass. FED is failing at improving employment, but successful at draining middle-class wealth.
    28 Sep 2012, 12:42 PM Reply Like
  • American in Paris
    , contributor
    Comments (5504) | Send Message
     
    The Fed kept the Great Recession from becoming Great Depression II.
    28 Sep 2012, 04:32 PM Reply Like
  • Tack
    , contributor
    Comments (13399) | Send Message
     
    Look, the markets may go up or down for a variety of reasons, but it's bordering on hilarious that folks would still worry about major banks failing, as it's become evident from recent experience, i.e., full support from the Fed and ECB, as well as their present massive liquidity and excess reserves, that the banks aren't the problem.

     

    Want to worry about something? There are plenty of other issues deserving of attention. Most are on Capitol Hill.
    28 Sep 2012, 04:41 PM Reply Like
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