Regulators say all 19 banks undergoing the exams will pass them. Indeed, they say this is a test that a bank simply will not fail: if the examiners determine that a bank needs “exceptional assistance,” the government, that is, taxpayers, will provide it.
nakedcapitalism seems to think this is a shame, Quelle Surprise! Bank Stress Tests Producing Expected Results!
The whole point of this charade exercise was to show the big banks weren’t terminal but still needed dough, and I am sure it will prove to be lots of dough before we are done.
The Big Picture has similar thoughs, as does Clusterstock. Its just seems odd that the reprt says the banks are doing better then expected, yet brace yourself for another truck load of government bail-out.
Vice President Biden gave a wide-ranging interview to CNN last night, but strangely the question pundits have been debating today is whether Biden should have hit back at his predecessor, Dick Cheney, who’s said repeatedly that the Obama administration is making us “less safe.”
Cheney might be a serial fabricator – here, here, etc and a pompous ass, but he dispenses the conventional wisdom. Cheney, who received four draft deferments to avoid Vietnam, has never done anything more heroic then use a stapler, but the press and his small legion of fans see him as the tough guy. Ever ready to fight our enemies. If they ever find his bunker.
White House: No bow to Saudi. This is how it works. The Right bites into this non-story. Keeps repeating the lie over and over again – ya see look 53 seconds into video, yep clearly bowed. After a while it becomes like the Clinton era Vince Foster urban legend. I lean forward, bending slightly at the waist to shake hands with people frequently. Saying that Obama bowed to a foreign potentate is like saying that every time someone puts their hands together they must be praying. One of the reasons I wouldn’t last long as a Democratic president’s press secretary is my official release would have read something like: He didn’t bow. Anyone that says otheriwse should resume taking their meds.
In a riveting high-seas drama, an unarmed American crew wrested control of their U.S.-flagged cargo ship from Somali pirates Wednesday and sent them fleeing to a lifeboat with the captain as hostage.
The destroyer USS Bainbridge, one of a half dozen warships that headed for the area, arrived at the scene Thursday morning a few hours before dawn, said Kevin Speers, a spokesman for the company that owns the Maersk Alabama. He said the boat with the pirates was floating near the ship, the first with an American crew to be taken by pirates off the Horn of Africa.
Sounds like the Bainbridge will soon be putting some Somali punks out of the pirate business.