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Tuesday, June 09, 2009

TARP stress test figures were a joke

How shocking. Geithner's stress tests were pretty much as expected and probably manipulated by the banks themselves. Heaven forbid anyone gets tough with the banks. This game is getting old. 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.

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