Stress Test Results
April 20th, 2009 8:17 am | by John Jansen |I have never heard of this website not have I ever heard of Turner Radio but they purport to have leaked results of the stress tests.
They paint a bleak picture and suggest that 16 out of 19 of the largest banks are in dire straits.
Once again please treat with caution.
And a Hat Tip to DB.
13 Responses to “Stress Test Results”
By Jake on Apr 20, 2009 | Reply
John- love the site, but linking to a guy (hal turner) that according to wikipedia is:
an American white nationalist and white supremacist from North Bergen, New Jersey. He ran his program, The Hal Turner Show, as a webcast from his home once a week, and depended on donations from his listeners. He quit the show in July 2008. In August his website also closed down, though he retains a blog.
is wrong regardless of the warning. i’d recommend removing this post
By bryce on Apr 20, 2009 | Reply
Hey,
The Reuters link he tags was dated prior to his own post. Wording and references are oddly similar…
By MFL on Apr 20, 2009 | Reply
This smells very phony. I love all the exclamation marks everywhere.
By John Jansen on Apr 20, 2009 | Reply
I just linked to a Wikipedia article on the guy and seems he is a bit of a kook.
By Sean on Apr 20, 2009 | Reply
It is making the rounds, I think that is why Jansen posted this. I’ve had it forwarded a few times.
By John Jansen on Apr 20, 2009 | Reply
Jake,
I posted it because the market was trading on the story and participants were discussing it.
I read it and it seemed strange and I advised caution.
I did some research and followed up with a Wikipedia entry and identified him as lunatic fringe.
I support nothing that he says but the story had currency in the market and I report what goes on in the market.
If you are regular reader you know that I have political opinions but I keep them under wraps most of the time (nearly all the time) and I just report what people relate to me.
Thanks.
By BL on Apr 20, 2009 | Reply
Would it be any surprise if that many big banks would require additional capitalization under projected “worst case” conditions?
BL
By Bman on Apr 20, 2009 | Reply
John, you are right to post it. I f something is moving the market it is newsworthy – we all can choose to fade it or go with. Thanks.
By Andrew on Apr 20, 2009 | Reply
Doesn’t matter where the source comes from, I can think of countless extreme left wing info that gets out into the daily news and reported as fact. It only matters that it is being circulated. besides people on the extreme right are really left of the political spectrum because BOTH believe in government control. Fascists/communists are both left of the political spectrum they just have different ideas of how to get there.
By John Jansen on Apr 20, 2009 | Reply
Thanks to everyone.
I think the only thing that matters about this story is that LOTS of people were discussing it.
If I had not heard it in the street I would not have printed it.
By Jake on Apr 20, 2009 | Reply
in that context it does make sense.
-jake
By kmw on Apr 20, 2009 | Reply
It does gain some (slight) credibility with its assertion that the 5 largest banks are dangerously undercapitalised. While we could debate that, the number 5 is relevant – the 6th largest bank is US Bank, which is almost certainly NOT dangerously undercapitalised; it is arguably the strongest and most conservative of the large banks in the US. Of course, someone fabricating such a report might know that too.
By Stuart on Apr 20, 2009 | Reply
Personally I detest that supremacist crap of his, but after going through his latest update containing details of the SEC call back, I now think he actually has something containing results. At the least, certainly do not dismiss it now out of hand.