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Roubini: Don't Believe the Stress Tests or the Bank Rally

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  • Roubini: Don't Believe the Stress Tests or the Bank Rally

    Posted May 05, 2009 08:56am EDT by Joe Weisenthal in Investing, Recession, Banking
    Related: XLF, C, BAC, WFC, JPM, GS

    From The Business Insider, May 5, 2009:

    Dr. Doom has an op-ed in the WSJ today. It's basic message is: The rally is an illusion and the stress tests are a fraud due to overly optimistic assumptions. If you thought nationalization or bondholder restructuring were off the table, you were wrong. The banking sector, he says, will lose a total of $3.6 trillion, meaning it's basically entirely insolvent.

    Roubini Don't Believe the Stress Tests or the Bank Rally: Tech Ticker, Yahoo! Finance
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