It just never ends, does it?
Market manipulation? Intentionally withholding information? No problem.
But officials are worried about how the market will react to the stress test results if there is not a clear recovery path for a bank that is deemed to have a large capital need.
The last thing Treasury wants to do is set off a panic, the source said.
When America, do you get tired of this?
If a private company intentionally held back information like this it would be actionable at best and a criminal act at worst.
The banks that are insolvent are in fact bankrupt, concealing it with the full complicity of our government, and have been for months.
It is time to cut the crap and resolve these firms as required by PCA - binding Federal Law.
- Stockholders are wiped out.
- The capital structure is "crammed down" to whatever extent is necessary.
- Depositors are protected, if both (1) and (2) occur and there is no residual value remaining, as required by law.
This isn't "a good idea" or "a bad idea."
IT IS THE LAW, AND I HAVE BEEN HOLLERING ABOUT IT FOR MORE THAN A YEAR NOW.