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Bank Stress Test Results at 4:30 Today: Will the Fed Whistle Past the Graveyard?

by Pam Martens and Russ Martens, Wall Street on Parade:

Results of the first leg of this year’s Federal Reserve stress tests, which measured capital adequacy of 31 of the most systemically important banks under a hypothetical market crash and deep recession, were released on March 5. Every institution passed that phase of the tests. At 4:30 p.m. today, the Federal Reserve will release its findings on the second leg of the tests: risk management capability, corporate governance and internal controls. Wall Street calls this element the “culture” test.

For those who have been reading our columns since 2008, when the culture of Wall Street brought about the greatest U.S. economic collapse since the Great Depression of the 1930s, you might be thinking that the Fed’s concern over the culture on Wall Street is a day late and $14 trillion short. (The $14 trillion figure is the amount of secret loans the Fed sluiced into the mega banks between 2007 and 2010 to keep the financial system from completely collapsing. Many of those loans were made at less than 1 percent interest.)

Read More @ WallStreetonParade.com

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