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The Turner Radio Network has obtained "stress test" results for the top 19 Banks in the USA.
1) Of the top nineteen (19) banks in the nation, sixteen (16) are already technically insolvent.
2) Of the 16 banks that are already technically insolvent, not even one can withstand any disruption of cash flow at all or any further deterioration in non-paying loans.
3) If any two of the 16 insolvent banks go under, they will totally wipe out all remaining FDIC insurance funding.
4) Of the top 19 banks in the nation, the top five (5) largest banks are under capitalized so dangerously, there is serious doubt about their ability to continue as ongoing businesses.
5) Five large U.S. banks have credit exposure related to their derivatives trading that exceeds their capital, with four in particular - JPMorgan Chase, Goldman Sachs, HSBC Bank America and Citibank - taking especially large risks.
6) 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!
7) Not only are there serious questions about whether or not JPMorgan Chase, Goldman Sachs,Citibank, Wells Fargo, Sun Trust Bank, HSBC Bank USA, can continue in business, more than 1,800 regional and smaller institutions are at risk of failure despite government bailouts!
For those who may be skeptical about the veracity of the stress test report above, be reminded that only last Sunday, April 12, this radio network obtained and published a Department of Homeland Security (DHS) Memo ...
We obtained it and published it days before other media outlets.
Originally posted by Alora
So what will the consequences of this be, I wonder. How do we fix this, or do we just wipe it away and start anew? (I know, probably not possible)
All I can think is that this is going to cost us another pretty penny.
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.
Originally posted by Maxmars
There are precious little in the way of surprises in these leaked results.
Our 'major' banks are propped up on make-believe assets..., all boiled down to fictional funds they 'anticipated' as collateral for make believe bets, which ironically WE HAVE TO PAY FOR.
FRACTIONAL RESERVE LENDING IS THE ROOT OF THIS PROBLEM.
That..., and rich boy gambling thrills....
Banks should be limited to compensation for services, NOT gambling skills.
We abandoned fractional reserve banking decades ago. We are now and have been for a while on a purely fiat system.
"We expect the stress test to demonstrate that the 19 banks are all well capitalized even under the stress test's worst-case scenario," says Scott Talbott, senior vice president at the Financial Services Roundtable, which represents the largest financial institutions.
However, a chorus of bank analysts and economists are questioning the rigor of the stress tests if the results are really so positive. After all, just six months ago, the entire financial system was brought to its knees from the stress of capital market losses and rising mortgage defaults.