"History is a wonderful thing, if only it was true"

Friday, April 24, 2009

File under What the F?

So we are to suppose that the Executives don't know what they have?

Someone (The Fed) has to tell management about the quality of their balance sheets.
What are these guys hired to do?

Banking Should Be Boring! 

U.S. to Tell Big Banks the Results of Stress Test - NYTimes.com

"After a two-month wait, the nation’s 19 largest banks will start learning on Friday how they fared in important federal examinations — and which among them will need another bailout from the government or private investors."

Felix Roatyn, who helped bail out NYCity in the '70's :

"Well, the answer is, I don't know. And I won't know until it's over, because so many things can happen.

Now we -- because it is a political issue, we are looking for very -- we're not looking for, but we're going through very complicated structures. And I've always been convinced that, in finances and most everything else, every level of complication adds three or four levels of difficulty and the likelihood of failure. - CNN GPS a couple of weeks ago

No comments: