May 08 2009
It’s not over until the ARM lady sings!
You have to view the video “The Greatest Boondoggle in History” Banks Buoyed at Taxpayers’ Expense - Stress Test is Phony - Yahoo!Finance-May 8, 2009.
The bank “stress tests” are phony. They didn’t work in the past. They underestimate the amount of capital needed by the banks.
The biggest shock coming to the system are the Adustable Rate Mortgages (ARMs) coming due next year. The worst is not over!
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