From Outside Peering In-Commentary

So now you have bought some equities in the past month and some of the big banks have been reporting a profitable quarter, huh? Well the Dow has begun to flatten out from its 30% rise…
The “stress tests’ for banks are as bogus as their implementation. Do you really think that the 10 examiners assigned are sufficiently adequate to dig into the complex world wide CDS’s that Citi owns? Ha ha ha.
The Financial times reports that rising unemployment has been at a rate to invalidate the tests even under the Treasury’s “adverse scenario” model. Now they are going to interpret the results more stringently. The Treasury has declined to comment. Dr. Nouriel Roubini, chairman of RGE Monitor observes “The stress test results are meaningless as actual data are already running worse than the worst case scenario.”