The "Money" Quote
Regulators say all 19 banks undergoing the [stress test] exams will pass them. Indeed, they say this is a test that a bank simply will not fail: if the examiners determine that a bank needs “exceptional assistance,” the government, that is, taxpayers, will provide it.
Does anyone believe anything that comes out of the Geithner Treasury Department at this point? I don't. I like Kevin Drum's reaction -- "I'm having a harder and harder time figuring out what's going on as time goes by. If everything is on the up and up, it doesn't make sense. If there are hidden wheels, though, I'm not sure they make sense either. Just what is Treasury up to?"
Speaking for me only
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