The Stress Tests
If they are credible, the stress tests will finally provide the information the government needs to deal forcefully with the banking mess — assuming the White House also has the will to do what is needed. . . . If the capital shortfalls are severe, . . . it is all but certain that private capital will not be forthcoming. The government should act quickly to plug the holes. . . . The administration should . . . recapitalize the banks. And it should take temporary control if that infusion results in a majority stake.
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