The U.S. Treasury and financial regulators are clashing with each other over how to disclose results from the stress tests of 19 U.S. banks, with some officials concerned at potential damage to weaker institutions. (via Bank Regulators Clash Over U.S. Stress-Tests Endgame (Update1) – Bloomberg.com).
What are banking insiders saying?
Banking insiders think that all these banks are practically insolvent. How does Obama and his cohorts deal with? Mega mergers? More cash infusions. Or will the US banking also finally end up with the Big 3?
Public sector or oblivion
During the Great Depression, more than 19 auto companies (similar to the number of banks today) were folded into the Big 3. The Big 3 lived to fight for another 70 years. In their death throes, the US Big Auto is likely to go the way European auto sector has gone – public sector or oblivion.
Saddam lives (through his words)
The way it looks, it will mean the Mother Of All Mergers. At which point, there is no team of accountants in the world who can figure out what is where, or what condition what is in? And then the evasions, the lies the obfuscation can continue for some more decades?
Real low … real truth (seen an oxymoron like that?)
The real question – who will pay for it?
Not the Americans! No siree. Definitely not.
Neither the American super-rich or the American welfare-poor? Not the American tax payers or the American tax evaders? Not the American Whites or the American Blacks?
It is the Chinese, the Russians, Indians, Brazilians and above all the Africans will pay for this! They have done, what bankers call non-recourse lending! The Chinese, Russians, Indians, Brazilians and the Africans, have no recourse. Who will the Chinese go to, for redeeming their US$2 trillion?
The bankrupt US of A? Welcome to the real world.
- U.S. Regulators Issue Stress-Test Guidelines for Smaller Banks (businessweek.com)
- Dollar falls against euro after stress tests (seattlepi.com)
- CIBC: What’s the American Century endgame? (theglobeandmail.com)
- Euro Bank Stress Test Results Due Soon (UK Banks Pass: Sky News) (blogs.wsj.com)
- Europe Bank Stress Tests Compromised by Greek Non-Default (businessweek.com)
- UK banks set to clash with EU over tough new capital rules (telegraph.co.uk)
- Here Are The Banks That Failed Today’s Stress Tests (businessinsider.com)
- Dollar falls against euro after stress tests (sfgate.com)