Word: stressful
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...nation's biggest banks, the U.S. Treasury is providing capital infusions and now a detailed stress test. Also, Citigroup announced on Friday the outline of a deal with Treasury to convert the government's holding of Citi preferred stock into common shares. The U.S. Treasury could end up owning more than 36% of the ailing bank. But confidence in the financial community remains low. Describing a vicious cycle of risk aversion, former Fed chief and current Obama adviser Paul Volcker told Congress's joint economic committee on Thursday that "an insecure bank faced with what it sees as insecure borrowers...
...government is in the process of "stress testing" banks by making assumptions that the American economy could collapse and that unemployment could move to 10% with housing prices could fall another 20%. None of that "testing" take into account what happens if the financial status of Eastern Europe worsens. Maybe that should go on the check list to determine which banks are healthy. The answer would probably be "none." The financial world is too small for defaults on national debt not to have a tremendous ripple effect...
This week, President Barack Obama called for the 19 largest banks in the country to undergo “stress tests” to determine whether they are adequately capitalized to withstand a significant economic downturn. Critics have claimed that the government’s worst-case economic condition forecasts are too weak, making the tests inadequate. Still, the tests should provide valuable information on the health of our banking system, and the administration was wise to order them. Should the results eventually show that any major bank is undercapitalized, the government should not hesitate in taking it into receivership...
...toughest question of all may come down to which banks actually stand a chance of returning to health. Bank regulators have embarked on "stress tests" of the 19 largest banks to determine that. But it's not clear how exacting the tests will be, and to be honest, nobody knows for sure how exacting they should be. Judged by liquidation value--what they could get for selling their assets on the open market today--most major banks in the U.S. are probably insolvent and due for a total government takeover. But that isn't the standard banks are judged...
...path away from its peers by appointing a horoscope writer who writes all weekly horoscopes herself. But this Cornell undergrad’s methodology may raise some questions. All of her horoscopes say in some form or another, “Don’t stress, you’ll get time to relax soon,” or, “Really, stop working and just chill.” But the planets and stars are calling all Leos to start thinking seriously about their summer plans...