Comments on: Board of Health Condemns Due to Moral Hazards http://www.noquarterusa.net/blog/21156/board-of-health-condemns-due-to-moral-hazards/ Sun, 27 May 2012 09:11:00 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: choo choo magoo http://www.noquarterusa.net/blog/21156/board-of-health-condemns-due-to-moral-hazards/#comment-1182729 choo choo magoo Tue, 14 Apr 2009 14:55:56 +0000 http://www.noquarterusa.net/blog/?p=21156#comment-1182729 Excellent piece Larry. As always. Excellent piece Larry. As always.

]]> By: wodiej http://www.noquarterusa.net/blog/21156/board-of-health-condemns-due-to-moral-hazards/#comment-1182716 wodiej Tue, 14 Apr 2009 14:36:36 +0000 http://www.noquarterusa.net/blog/?p=21156#comment-1182716 What they need to do is LET THE ASSHOLES BURY THEMSELVES AND THEN TRY TO DIG THEIR WAY OUT. Then this SHIT WOULD STOP!! I don't want the government bailing out these assholes with my tax dollars then holding a gun to their head because they loaned them my money. They need to keep their damn tax fraud asses out of capitalism, let them fail and the market will right itself. Cripes, these people are purposely making things worse and THEY HAVE NO CLUE WHAT THEY ARE DOING!! Or maybe they do and they are sucking on a power high. What they need to do is LET THE ASSHOLES BURY THEMSELVES AND THEN TRY TO DIG THEIR WAY OUT. Then this SHIT WOULD STOP!! I don’t want the government bailing out these assholes with my tax dollars then holding a gun to their head because they loaned them my money. They need to keep their damn tax fraud asses out of capitalism, let them fail and the market will right itself. Cripes, these people are purposely making things worse and THEY HAVE NO CLUE WHAT THEY ARE DOING!! Or maybe they do and they are sucking on a power high.

]]> By: mountainaires http://www.noquarterusa.net/blog/21156/board-of-health-condemns-due-to-moral-hazards/#comment-1182680 mountainaires Tue, 14 Apr 2009 13:48:55 +0000 http://www.noquarterusa.net/blog/?p=21156#comment-1182680 Bank Stress Tests You know this is <strong>just getting ridiculous</strong>. Obama needs to get rid of Summers and Geithner NOW, or he's going to regret it. This is a prime example of inexperienced leaders and their chosen "counsel" being a bad mix. Bush choosing Cheney; Obama choosing Summers/Geithner, etc. <strong>Geithner's Stress Test "A Complete Sham," Former Federal Bank Regulator Says</strong> http://finance.yahoo.com/tech-ticker/article/225897/Geithners-Stress-Test-%22A-Complete-Sham,%22-Former-Federal-Bank-Regulator-Says <blockquote>The bank stress tests currently underway are “a complete sham,” says William Black, a former senior bank regulator and S&L prosecutor, and currently an Associate Professor of Economics and Law at the University of Missouri - Kansas City. “It’s a Potemkin model. Built to fool people.” Like many others, Black believes the “worst case scenario” used in the stress test don’t go far enough. He detailed these and related concerns in a recent interview with Naked Capitalism. But Black, who was counsel to the Federal Home Loan Bank Board during the S&L Crisis, says the program's failings go way beyond such technical issues. “There is no real purpose [of the stress test] other than to fool us. ...</blockquote> <em>Yeah, I know. You already heard about Black's comments. But now Roubini is chiming in with his mockery of these "stress tests" which he calls "fudge tests." </em> Nouriel Roubini April 13, 2009 <strong>Stress Tests Fail Before They Even Get Started!</strong> <blockquote>The spin machine about the banks’ stress test is already in full motion; some banking regulators have already leaked to the New York Times the spin that all 19 banks who are subject to the stress test will pass it, i.e. none of them will fail it. But if you look at the actual data today macro data for Q1 on the three variables used in the stress tests – growth rate, unemployment rate, and home price depreciation – are <strong>already worse than those in FDIC baseline scenario for 2009 AND even worse than those for the more adverse stressed scenario for 2009. </strong> Thus, the stress test results are meaningless as <strong>actual data are already running worse than the worst case scenario</strong>.</blockquote> Read the rest of Roubini's column here: http://www.rgemonitor.com/blog/roubini/ Bank Stress Tests

You know this is just getting ridiculous. Obama needs to get rid of Summers and Geithner NOW, or he’s going to regret it. This is a prime example of inexperienced leaders and their chosen “counsel” being a bad mix. Bush choosing Cheney; Obama choosing Summers/Geithner, etc.

Geithner’s Stress Test “A Complete Sham,” Former Federal Bank Regulator Says

http://finance.yahoo.com/tech-ticker/article/225897/Geithners-Stress-Test-%22A-Complete-Sham,%22-Former-Federal-Bank-Regulator-Says

The bank stress tests currently underway are “a complete sham,” says William Black, a former senior bank regulator and S&L prosecutor, and currently an Associate Professor of Economics and Law at the University of Missouri – Kansas City. “It’s a Potemkin model. Built to fool people.” Like many others, Black believes the “worst case scenario” used in the stress test don’t go far enough.

He detailed these and related concerns in a recent interview with Naked Capitalism. But Black, who was counsel to the Federal Home Loan Bank Board during the S&L Crisis, says the program’s failings go way beyond such technical issues. “There is no real purpose [of the stress test] other than to fool us. …

Yeah, I know. You already heard about Black’s comments. But now Roubini is chiming in with his mockery of these “stress tests” which he calls “fudge tests.”

Nouriel Roubini

April 13, 2009

Stress Tests Fail Before They Even Get Started!

The spin machine about the banks’ stress test is already in full motion; some banking regulators have already leaked to the New York Times the spin that all 19 banks who are subject to the stress test will pass it, i.e. none of them will fail it.

But if you look at the actual data today macro data for Q1 on the three variables used in the stress tests – growth rate, unemployment rate, and home price depreciation – are already worse than those in FDIC baseline scenario for 2009 AND even worse than those for the more adverse stressed scenario for 2009.

Thus, the stress test results are meaningless as actual data are already running worse than the worst case scenario.

Read the rest of Roubini’s column here:

http://www.rgemonitor.com/blog/roubini/

]]> By: Tuppence411 http://www.noquarterusa.net/blog/21156/board-of-health-condemns-due-to-moral-hazards/#comment-1182644 Tuppence411 Tue, 14 Apr 2009 12:59:00 +0000 http://www.noquarterusa.net/blog/?p=21156#comment-1182644 LOL Larry. Here - let me rummage thru my desk and find you some more placards: " Danger: Contagious Disease. Do not Enter" " Embargo: Unfit for Consumption" How about an oldie, but goodie? "$50 fine for public urination" And my personal favorite for the Timmy G ofice-"Report All Workplace Deaths Immediately" LOL Larry. Here – let me rummage thru my desk and find you some more placards:
” Danger: Contagious Disease. Do not Enter”
” Embargo: Unfit for Consumption”
How about an oldie, but goodie? “$50 fine for public urination”
And my personal favorite for the Timmy G ofice-”Report All Workplace Deaths Immediately”

]]> By: kenoshamarge http://www.noquarterusa.net/blog/21156/board-of-health-condemns-due-to-moral-hazards/#comment-1182641 kenoshamarge Tue, 14 Apr 2009 12:51:38 +0000 http://www.noquarterusa.net/blog/?p=21156#comment-1182641 "Government officials and regulatory bodies that were in the passenger seat at the time." The clowns were not only in the passenger seat they were cheering on the skills of the drivers. Granted many of the CEO's need to go. But not nearly as much as the pinheads in the government that aided and abetted. After all the CEO's weren't elected to serve the American People. The nitwits in government were. Thank you for a very clear and concise appraisal. I actually understood it. ;) “Government officials and regulatory bodies that were in the passenger seat at the time.”

The clowns were not only in the passenger seat they were cheering on the skills of the drivers.

Granted many of the CEO’s need to go. But not nearly as much as the pinheads in the government that aided and abetted. After all the CEO’s weren’t elected to serve the American People. The nitwits in government were.

Thank you for a very clear and concise appraisal. I actually understood it. ;)

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