Bank Stress Test Results LEAKED!!!

Does anyone know of a full list with the banks? I'd like to figure out which Dutch banks are on this list... ING must be on there for sure.

Someone noticed, and responded..

Treasury Says ‘No Basis’ to Report on Bank Testing (Update1)

April 20 (Bloomberg) -- A U.S. Treasury spokesman said there’s no basis to a blog posting that buffeted financial stocks by saying that most of the nation’s largest banks are insolvent.

Andrew Williams, a Treasury spokesman, dismissed the report from Hal Turner of North Bergen, New Jersey, “particularly given we don’t have stress test results yet.” Turner has advocated violence against blacks, Jews and immigrants on his Web site and Internet radio show, according to the Anti- Defamation League, created in 1913 to monitor anti-Semitism.

The Financial Select Sector SPDR Fund, an exchange-traded fund tracking banks, brokerages and insurers, fell to $10.62 from $10.75 in six minutes after FlyOnTheWall.com cited Turner’s blog post at 8:14 a.m. in New York. At 8:30 a.m., FlyOnTheWall advised readers to disregard the earlier story.

Who's telling the truth, while Turner's credibility appears lacking, this article seems to go into overkill mode in destroying Turner, let's not forget that the treasury department's cred isn't too high on most people's list at the moment as well.

I am relatively sure most of the bail out money being given to the banks has gone towards the banks managing their foreign lines of credit from banks in China, Japan and Europe.

Ideally in a free market society the market would attend to itself. The banks would be forced out of business; their assets would be sold off.

It would be extremely painful but the market would correct itself which is in reality the only way the market could ever be corrected.

The tinkering and gerrymandering is simply going to increase the future burden of tax payers forced to pay for the costs of the bailouts.

The sad thing is that of course all that is being accomplished is ‘throwing good money after bad’ and loosing that also in the process.

Amazingly this is all high school economics 101 and it truly is treasonous that our elected representatives have abdicated their roles in representing the American people to push this deceitful and destructive agenda.

I don’t blame people for foolishly wanting to believe in something that seems to involve rocket science equations and understanding to figure out.

I blame the politicians and bankers for making it seem so complex.

Math is the simplest thing in the world. Two plus two always equals four and can never equal any other number. Banking is all about basic math. The math either adds up or it doesn’t.

In an honest society and an honesty system when the numbers don’t add up in a bank it needs to be shut down, it needs to be forensically audited and then people need to be charged with criminal offenses where and as frequently as they have occurred and prosecuted to the fullest extent of the law to maintain integrity in the banking system.

That we are being sold false hope by having to pledge our future earnings for years to come to be taxed accordingly to pay for this debacle of malfeasance, unfettered greed, gross negligence and incompetency is horrifying beyond the pale.

2 + 2 really does = 4, and nothing being done in regards to the banks or the economy or any bit of legislation coming out of Washington D.C. is being done 4 the people.

People really do need to come to terms with it while people still hold some of the cards.

reply to post by JacKatMtn


money.cnn.com...

Well they have already been caught lying about not having the results by all so as you can see adding to them don't help. Now the market will tank because more and more people will pull out of the market after hearing the Fed lie once again.

I'm certain that the actual results of the bank stress test are terrible, however I don't believe that a guy like this is a credible source for the truth:

Hal Turner Wikipedia Article

He never explains how he got his hands on such a document. And when, in the comments, someone suggests that he release at least a portion of the actual document as proof, he responds by saying that he needs to hold on to it until the actual one is released because then he can show us all how they are trying to spin it for the public by releasing the actual results.

Don't get me wrong, the government will absolutely sugar-coat this if/when it is released, but even if Turner does have the real document, how is he going to prove it then?

Turner is a hack, but I'm sure he's correct, at least on the general idea, that the banks are in shambles.

EDIT:

Also, to those of you who give him credit due to the Fed's response that they don't have the test results yet even though they told the banks to stay quiet, I think you need to read the article quote again:

April 10 (Bloomberg) -- The U.S. Federal Reserve has told Goldman Sachs Group Inc., Citigroup Inc. and other banks to keep mum on the results of “stress tests” that will gauge their ability to weather the recession, people familiar with the matter said.

So the Fed has told banks to keep mum on the results...... That could be a preemptive warning. Why would they release the results to the bank, let them sit on them for a few days, THEN tell them to keep quiet about them. It would make a lot more sense to say keep quiet, and THEN hand over the results.

Granted, this still points to the fact that the results are not good.

[edit on 20-4-2009 by paradigm619]

All 30 Dow stocks are lower at this moment. -271

I'll trust a blogger over the FED and Government these days. Something is definitely up with that response, they are trying very hard to discredit the man.

Originally posted by paradigm619
I'm certain that the actual results of the bank stress test are terrible, however I don't believe that a guy like this is a credible source for the truth:

Hal Turner Wikipedia Article

I agree, but there are those to corroborate, KD for example:

Treasury: Caught Lying Again

Last night Hal Turner (who has a reputation that is best described as heavily-adorned with Reynolds Wrap) published this.... Sorry guys, but whether Hal Turner has the real results or not is no longer material. What's material is the claim that Treasury doesn't have them, since they told the banks on the 10th not to release them, and you can't release what you don't have.

The problem with lying is that eventually you forget your previous lies and thus get caught when you contradict yourself.

market-ticker.org...



[edit on 20-4-2009 by pluckynoonez]

Banks have always been able to lend 10 times more money than what they actually have, so if bank of america only has 10 million dollars in cash they are able to lend 100 million in loans with the corresponding interest to each loan.

I don`t understand why that stress report is supposed to be something to sweat about, since this is the same kind of risk banks have always taken in which the actual owners (customers, people) can take the 10 million in cash that they actually have in possession and the bank can end up with no cash at all and only depend on the interest coming in to them from the loans in which case, they will declare bankrupcy, or even declare bankruptcy even before they end up in zeros, if they bank`s CEO is smart. At this point the 1 to 10 ratio of possession seems to be heathy on that report.

reply to post by JacKatMtn


Hm... such a quick denial is most peculiar, wouldn't you say? In other supposedly baseless cases, leaks are ignored for days if not all together. It is almost as if they want to turn out looking like they're in damage control mode.

The more I think about it the more I think the Fed is the only one to gain from companies going from bad to worse. Weren't the Fed given almost unsupervised power for bailing out companies in exchange for their stock? So the privately owned Fed, leaks its own report, waits for the stock market to open and "helps" a few companies into becoming their owners using the money only they can issue.

How wrong am I on this? Very I hope.

Kind regards, M.

Originally posted by Manawydan
reply to post by JacKatMtn

 

Hm... such a quick denial is most peculiar, wouldn't you say?

Well, according to the bloomberg piece, this blog leak story was actually affecting market activity, so you would expect them (feds) to try to calm the storm immediately. The overkill on slamming Turner made it shady...

Add in pluckey's response a few posts earlier, indicating evidence that the Treas has been lying and all it does is make me think that the market is still an egg being held by the feds, problem is they keep dropping the egg and pretty soon it's going to crack..

I think he is spot on with this. The total diriveative market is 1.5 QUADRILLION. He is right. The banks are insolvent. He might be off a little in the exact numbers, but, he is right. They are already gone.

Originally posted by flyboyscott68
I think he is spot on with this. The total diriveative market is 1.5 QUADRILLION. He is right. The banks are insolvent. He might be off a little in the exact numbers, but, he is right. They are already gone.

You mean the Credit derivatives market, thats about 50-55 trillion US dollars.
CDS on Wikipedia


[edit on 2009/4/20 by reugen]

reply to post by Tentickles


Could the DOW have dropped because of the blog?
Thats a possibility considering it's based off of hearsay pretty much...

Originally posted by jam321
I have to side with the report because a while back a report came out where the feds wanted the banks to keep mum on the results.

Would you tell the banks to keep mum on the reports if they were full of good news?

The banks.... probably the 'Core-Elite 5' ---Which will neve be penalized
or allowed-to-fail by the Fed (aka Federal Reserve)
were permitted to conduct the recent 'creative accounting' Quarterly
Statements, because the Fed/Treas Told the FASB to reform the Mark-to-Market pricing of the Elite-5 Banks, and to a lesser degree the 'Favored/Blessed top-20 banks', holdings in their toxic-asset holdings !


i suggest the Banks are allowed to 'play' as much as the Fed. allows them to.
here's a way to try to pull-the-reins on the Fed. and their operations:

" Ron Paul has introduced HR1207,
the Federal Reserve Transparency Act.

The Senate version is, S604; The Federal Reserve Sunshine Act.

the House Bill has more than 50 sponsers and the Bill can pass
if enough people contact all congressional representatives, demanding support.

It amends the US Code so that the GAO would be required to audit the FED by the end of 2010,"
((...it would include discount-windows, funding-facilities, open-market-operations and agreements with foreign banks....
and i assume all current domestic banks or future investment houses et al...))


[...]

see: ~www.the international forecaster. com~


'Evidence' is very hard to come-by, as there are a multitude of entities, agencies hell bent on obfuscating the mess, for their own advantages...
so don't blame Hal Turner for not having the court-legal, bonified evidence
his mission is more like paul revere's


thanks,

[edit on 20-4-2009 by St Udio]

Originally posted by Manawydan
Call my overly skeptic if you must, but I get a feeling these reports are being purposely leaked for some reason. Could it be that the banks in question maybe want more bailout money? Ultimately, someone somewhere is gaining a lot of resources, power, influence, you name it, as a result of this crisis. It would be in their best interest for these reports to be accidentally leaked.

Kind regards, M.

If they get bailout money = all debt is settled, and everyone is free to debt again...

It is quite stupid to give someone some of your money just to loan it back to you with interest.... The smart thing = Loan them the money with interest....

Still more stupidity on top of stupidity = no wonder why they are winning as they got 99.99% of the bases covered, and remember folks these people are NOT dumb..... All it takes is one to look, and act stupid for everyone to fall into the trap, and it's quite hard to stay out, u gotta be on ur toes at ALL times, etc...


[edit on 20-4-2009 by nowshining]

[edit on 20-4-2009 by nowshining]

[edit on 20-4-2009 by nowshining]

[edit on 20-4-2009 by nowshining]

Originally posted by Where2Hide2006

Bank Stress Test Results LEAKED!!!

turnerradionetwork.blogspot.com

1) Of the top nineteen banks in the nation, sixteen are already technically insolvent.

2) Bank of America`s total credit exposure to derivatives was 179 percent of its risk-based capital; Citibank`s was 278 percent; JPMorgan Chase`s, 382 percent; and HSBC America`s, 550 percent. It gets even worse: Goldman Sachs began reporting as a commercial bank, revealing an alarming total credit exposure of 1,056 percent, or more than ten times its capital!

(visit the link for the full news article)

FUNNY ...... and I just read a blurb in CNN money too, BOA claims they had a record profit for the last 1/4 ...... WTF kind of accounting are these guys using!!!!

article on CNN Money

This is so ridicules its SICK, and people are not up in arms about this complete fiasco! politicians, bankers raping the economy left and right and blaming everyone else, home owners, credit strapped consumers illegals .... you name it everyone else but these FRICKEN CRIMINALS!!!

edit to add article link


[edit on 20-4-2009 by svpwizard]

Originally posted by Manawydan
Call my overly skeptic if you must, but I get a feeling these reports are being purposely leaked for some reason. Could it be that the banks in question maybe want more bailout money? Ultimately, someone somewhere is gaining a lot of resources, power, influence, you name it, as a result of this crisis. It would be in their best interest for these reports to be accidentally leaked.

Kind regards, M.

I think that they are purposefully being leaked for a different reason. I think that they want people to be scared enough to demand action to be taken. This action of course will be global currency, government, etc.

Originally posted by Desolate Cancer

I went the website linked, hoping to find their original source document.

I could not find anything. I am not saying this is not true since it would answer why bank of america is down 15% today even though it beat analysts expectation.

Something is definitely up, I just would trust this more if I could see a more official document or specific name source, other than a blog ( regardless of the blogs past history of truth).

I read the document you seek on this thread:

www.abovetopsecret.com...

The actual (unverified at the time) document is here:

turnerradionetwork.blogspot.com...

reply to post by Tentickles


I'll trust a blogger over the FED and Government these days. Something is definitely up with that response, they are trying very hard to discredit the man.

Agreed. I never heard of the writer before this, nor know anything about his agenda. "Kill the Messenger" has been around since times antiquity.

In Washington, the general rule of thumb is that you NEVER legitimize the Message by talking about it. But if you DO, you send one of your minions to "kill the messenger" -- not the message per se, but the messenger -- and YOU never do it yourself.

Yes, I can see this as an intentional leak by the Fed or one of the stronger banks, possibly to kill off the weaker banks early.

Something fishy about this here, IMO.

I am highly skeptical of this report.

However is said report is true. I fully expect us to go to war with someone. And I expect it to be a major war. Possibly with Iran.
As the banks go under people will need jobs.
Talk about Obama having to make a really unpopular decision.