Rumpole

Demystifying the Stress Tests

The whole stress test thing is an exercise to try to instill confidence in the financial system. Like the Prez has been saying, it's about confidence. However, to the government it doesn't matter if that confidence is based on fiction.
It would be no disaster for the banks to fail. it would be a disaster for some, but for others it would be a tremendous opportunity. And it would allow a new system to be formed from the ashes that has a stronger basis. You know, like the proberbial phoenix rising.

Goldman Analyst: Write-Down Concerns at Merrill and Citigroup

Can someone please explain how JPM is not taking similar credit value write downs on their massive $7 trillion in CDS exposure??? Even GS is getting hit now.