Bank Regulators Meeting To Discuss How To Pull More Wool Over Our Eyes

[kpete]

The teaser he linked to describes the problem of what to do with the results of the stress tests investigating--among others--BoA and Citi.
http://online.wsj.com/article/SB123896116444090481.html?mod=googlenews_wsj

Top federal bank regulators plan to meet early this week to discuss how to analyze the results of stress tests being conducted on the country's 19 largest banks, people familiar with the matter said.

Only, it seems like those bank regulators have decided to punt, at least until we get past earnings season.

The U.S. Treasury Department is planning to delay the release of any completed bank "stress test" results until after the first-quarter earnings season to avoid complicating stock market reaction, a source familiar with Treasury's discussions said Tuesday.

The Treasury is still talking about how results of the regulatory stress tests on the 19 largest U.S. banks will be released, and may disclose them as summary results that are not institution-specific, the source said.

Gosh. They got together. Looked at the results. Started to hire Senior Large Financial Institution Specialists in both Citi's and BoA's home towns.

And then started talking about "summary results" that are "not institution-specific" and decided to put off their announcements (which may be finished before the end of the month) until after earnings season is over.

Just so you don't learn how broke these banks are in such a way that will crash the stock market.

I'm guessing if Citi or BoA were HQed in Detroit, they'd be making final prepations for bankruptcy around about now.

more at:
http://emptywheel.firedoglake.com/2009/04/07/about-those-stress-test-results/

[midnight]

1. So all the money just evaporated into who's account?

[leftstreet]

2. K&R