TARP Overseer: Run the Stress Tests Again, as Economic Conditions Have “Blown Past” Even the Worst-Case Scenario Used in the First Round

As summarized by CNBC:

The Congressionally-appointed panel overseeing the Troubled Asset Relief Program (TARP) recommends running again the stress tests on US banks, as economic conditions have worsened, its chair, Harvard University professor Elizabeth Warren, told CNBC Tuesday.

“We actually make recommendations to do it all over again right now,” Warren told “Squawk Box.”

“We’ve already blown past the worst-case scenario on unemployment,” she added.

Thanks to Warren for saying the obvious out loud (see this and this).

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  • these banks are defunct. and shoving more fistfuls of money down their dead horse throats is a big mistake. but they know that. they know that all they are doing is allow more of the thievery to go on and on and on and on and on.this is a sad, disgusting joke on 'We The People', and it's not very fucking funny.

  • Not fucking funny is being way to kind, it's blindly infuriating and brings on anxiety attacks and the urge to kill something. Good thing I like to fish at least I can go rip some lips to relieve the tension.Seems like the Bushies put some heavy precedence out there "I ain't talking and you can't make me". They will keep it up till were backed into the corner with only one option open. God I'm sick of this bullshit.

  • We waste taxpayer dollars everyday, this needs to come to an end. Our country is heading for Socialism and we know from history that it does not work. A free capital market does work. If a company can't make a go of it then close the doors and let others move in to fill the gap. Stop feeding the fat cats of banking and give the money to the little guys and the entrepreneurs, who will share the wealth and create jobs and useful products rather than rob the American people blind.