It's a fair question to ask about America's "financial system" of 'too-big-to-fail' so-called 'banks'. It could be asked about any and all of the 'top 19' banks that underwent secretive 'Stress Tests' that can not be revealed until the 'Accounting Miracles' season is over.
Wells Fargo Bank got a $25 billion dollar cash injection from the government and supposedly made $3 billion in 'profit'. A bank that might not even be in business without $25 billion (admitted) of OUR money is making a 'profit'.
Sounds fishy to me.
Obama's Treasury Secretary Tim Geithner doesn't want to share the results. The Fed doesn't want the banks to talk about the results. You can bet that the 'insiders' know what the results are.
It's only "We, The People..." who are not allowed to know how individual banks did.
We are told that every bank passed, yet some will need more bailout money.
Over at 'Automatic Earth' they are predicting a "sucker's rally" on Wall Street as the final flock of sheep are shorn.
Paul Krugman is warning of 'a false dawn' unsupported by the facts of the larger economy.
The economy will not turn around until there are more JOBS (meaning more non-debt purchasing power) created for working class Americans who must have enough to pay their bills.
RMD