April 10 (Bloomberg) -- The U.S. Federal Reserve has told Goldman Sachs Group Inc., Citigroup Inc. and other banks to keep mum on the results of "stress tests" that will gauge their ability to weather the recession, people familiar with the matter said.
The Fed wants to ensure that the report cards don’t leak during earnings conference calls scheduled for this month. Such a scenario might push stock prices lower for banks perceived as weak and interfere with the government’s plan to release the results in an orderly fashion later this month.
Go read this bullshit for yourself.
There is only one reason why these stress test should not be released, even after they have been delayed.
Because we refuse to try and understand the severity of this crisis.
You think this 3 week bull run in the equity market is a sign of recovery, lol.
Thank Timothy Geithner, the Obama admin, and Ben "helicopter" Bernake for silencing the banks and keeping the men and woman who help put Obama in power, in the dark.
If you are still contributing to your 401K I feel sorry for you.
I will also add that the Federal Reserves request is beyond their legal rights.
But I can guarantee one thing. No one will give a shit. Cause no one is gonna take them to court over it. The only one able to is the Obama justice department, and Obama ain't gonna do it. Sadly... (They are more likely to sue me than the Federal Reserve)
What a shame, we have the arbiter of the rich, Geithner, who bailed out Wall Street under Bush, who is now in charge of continuing the same policies he created in the NY FED office on the lower peninsula of Manhattan. Only now he is "under" the wing of Obama...
I wish I believed in a mythical creature so when I said "God help us" it really meant something.
We are fucked! (unless you know Geithner)