Monday, April 20, 2009

Stress Tests Leaked

I don't even think I can comment on this situation. I had somehow stupidly assumed that maybe 1/3 of the nations top banks were in trouble. I had no idea that it was this bad. It appears that all but a few are ready to fail. I think maybe I'll save a copy of this article in case they decide to pull it. Go read: Stress Tests

The Treasury is refuting this article and Time is saying that everything is just ginger peachy. However when a congressman told his wife last October to go to the bank and pull as much money as she could it makes you wonder. It's as if the building is on fire but nobody wants to mention it least the panic starts and people are trampled heading for the exits.

The Time spin on Think butterflies and fuzzy kitties


BBC said...

According to my view of the big picture this country is failing and that of course means that the banks will.

So it wouldn't surprise me if they do being as I've been expecting it anyway.

My incoming money is direct deposits to my checking account. I've recently taken to drawing it out in cash and tucking it away and using my credit card instead of my debit card.

Then I go to the bank to pay the credit card statement in cash. Or just paying cash in the first place.

May we live in interesting times.

BBC said...

I'll do okay, I owe the world so little that it's like zilch and I know how to live on the cheap and be happy enough with it.

But it appears that many are going to be in trouble, we shall see.

BBC said...

Ah remember when you could just pop down to the local gas station and get a quick repair. They weren't open on Sundays either.I'm not clear on how old you are but when I lived in the Seattle area in the late 60's a lot of gas stations were open on Sundays and did tire work.

Before I broke into dealership shops as a mechanic I worked in two gas stations there that were full service seven days a week.

Not for auto repairs as I was the mechanic and just worked five days a week. But back then a lot of stations sold and fixed tires seven days a week.

Demeur said...

Looks like B of A is in trouble. Hey isn't that your bank Billy?

I came from one of those states with blue laws that was back in the 50s when I was a kid.

So let me get this right you broke into dealerships which was right after you knocked off a couple of gas stations. Maybe we should call you Billy the kid. he he he

BBC said...

That was funny.

I bank with Wells Fargo and have been very happy with the service.

I have no idea how they are doing financially though, lot of smoke screens and out right lying and greed in all of that world of finance.

Tom Harper said...

I guess we'll have to give Wall Street a few more trillion. If we just keep giving them more and more money (with no strings attached of course), we'll eventually save the economy.