Many people may not have heard this yet (dang straight Francis has though), but the “stress tests” done for the 19 largest banks were completed. The Fed (read that as Timmmmmmmaaaaaah Geithner) refuses to make the results public until AFTER this quarter’s corporate earnings are reported across the board.
Francis, please help……….I am making a guess here and I pray that I’m wrong………………..
Would I be correct in thinking that the longer the delay in The Fed reporting the stress test results goes on, that we’re in much worse shape than anybody previously thought or would contemplate (other than one certain fairly respected, ADD-riddled-and-prone-to-crying radio talk-show host) ?
A friend of mine in the money world thinks that the actual stress test results are so bad, that on The Fed releasing the report and the content hitting the trading floors, the USA financial markets would collapse (Dow to literally ZERO) and internationally take our dollar with it.
Even if that extreme scenario is not the case, this stuff is starting to get serious.