Banks Negotiated Their Stress Test Results - Results Not All Real, Banks Manipulated To Look Strong

It seems the banks and government had negotiations on the Stress Test Results - The banks have applied Billions to their books - they do not have and were able to apply sales of units that have not been sold. In other words the Stress Test Results are Not Real - they are manipulated to make the banks look stronger than they actually are.

link to article:
www.washingtonpost.com...

Some major banks managed to wrest concessions from the government in closed-door negotiations over their "stress tests" that helped them put the best face on their results, financial analysts, industry officials and sources said.

The banks were intent on sending a message that they were strong enough to weather the economic storm and didn't need additional capital infusions from the government that could all but nationalize their franchises.

Citigroup successfully pushed to lower the amount of common equity it needs to raise to $5.5 billion by applying $52.5 billion from capital it has not yet reworked. It also was able to get a credit for the sale of a unit that has not been completed.

Investors initially were relieved by the generally benign results. But executives were still chafing in conference calls yesterday that their banks didn't end up looking better. Some acknowledged intense negotiations that began after they had learned of their preliminary results about two weeks ago. Several banks were displeased with the amount of capital the government concluded they must raise and lodged their complaints with Fed leaders.

When asked in a call with reporters about its seeming success in the negotiations, Citigroup Chief Financial Officer Edward Kelly said the firm still had issues with the tests. He said the principal difference of opinion centered on revenue the bank would generate if the economy worsened. He declined to discuss the specifics, saying talks with regulators were confidential.

So, why were these stress tests even done - if all they are - all manipulated numbers?

The citizens of the U.S. and World are not idiots, though it seems the government and banks - try to manipulate everything.

It is simply amazing the government negotiated with the banks to create false results.

So, this seems to go in hand with Cramer on Today show yesterday - thread here

It seems no one has any qualms about flat out lying anymore about what is really happening with our economy.











[edit on 8-5-2009 by questioningall]

[edit on 8-5-2009 by questioningall]

SNL opening right now is about this subject right now - about how the results are not exactly real and they made concessions to the banks - to just pass them all.

I knew they were not real. The results given to the media were to lean, not enough meat on them to create a panic, just enough to make us pony over some more billions.

Bring on the internal investigations please. No more lies!

NO MORE DAMMIT!