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What do you think of the government's bank "stress tests"?

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Results with 17 short comments
Total of 706 votes - click on the "Display Comments" bar below to sort comments

24.9%
I feel better knowing which banks need more capital
176 votes
15%
They were confusing; I feel more stressed now
106 votes
60.1%
I don’t understand them; it seems meaningless
424 votes
Display Comments:
I don’t understand them; it seems meaningless

The current administration is pro-banker and therefore has an obvious conflict of interest. The Federal Reserve Bank should be audited.

{"commentId":6945746,"threadId":"573276","contentId":"2789213","authorDomain":"robert-proctor"}
  • 2 votes
 - 6:58 pm EDT on Thu May 7, 2009
I feel better knowing which banks need more capital

while the accuracy of these reports are being questioned to some account, it's good to see the veil of transparency lifted.

{"commentId":6946138,"threadId":"573276","contentId":"2789213","authorDomain":"danandmarilyn"}
     - 7:17 pm EDT on Thu May 7, 2009
    I feel better knowing which banks need more capital

    Naysayers aside (including FORMER risk management officers - where were you 2 years ago), this "worst case" test shows we are recovering.

    {"commentId":6946276,"threadId":"573276","contentId":"2789213","authorDomain":"soccerdog64"}
       - 7:24 pm EDT on Thu May 7, 2009
      I don’t understand them; it seems meaningless

      Banks Officers who make million for themselves and for the banks. FIRE THE CURRENT OFFICERS AND GET SOMEONE WHO CAN PEFORM!

      {"commentId":6946397,"threadId":"573276","contentId":"2789213","authorDomain":"rdmzakk"}
      • 1 vote
       - 7:29 pm EDT on Thu May 7, 2009
      I don’t understand them; it seems meaningless

      The feds can make them be whatever they want them to be. Total waste of time and energy but that is what goverments are for.

      {"commentId":6946520,"threadId":"573276","contentId":"2789213","authorDomain":"chadr-1"}
      • 3 votes
       - 7:35 pm EDT on Thu May 7, 2009
      They were confusing; I feel more stressed now

      This administration is all smoke and mirrors - the only thing transparent is who is getting the shaft - taxpayers!

      {"commentId":6946754,"threadId":"573276","contentId":"2789213","authorDomain":"ewb"}
      • 4 votes
       - 7:47 pm EDT on Thu May 7, 2009
      I don’t understand them; it seems meaningless

      This whole process matters little. . . simply because I and 300 million other Americans are going to carry the bank's "burden" for them.

      {"commentId":6947072,"threadId":"573276","contentId":"2789213","authorDomain":"john-jungclaus"}
      • 2 votes
       - 8:04 pm EDT on Thu May 7, 2009
      I don’t understand them; it seems meaningless

      So lets see, the government GIVES smaller banks to the bigger ones (totally hosing the stockholders) and then gives them taxpayer money....

      {"commentId":6947213,"threadId":"573276","contentId":"2789213","authorDomain":"jharrington74"}
      • 1 vote
       - 8:14 pm EDT on Thu May 7, 2009
      I don’t understand them; it seems meaningless

      Unreal money versus real money? I'm sick of paying other people's bills. There was an aroma of huge 'rat' didn't
      anyone get it?

      {"commentId":6947395,"threadId":"573276","contentId":"2789213","authorDomain":"ashevans"}
      • 2 votes
       - 8:24 pm EDT on Thu May 7, 2009
      I feel better knowing which banks need more capital

      Full transparency is very important at this juncture!

      {"commentId":6949092,"threadId":"573276","contentId":"2789213","authorDomain":"maraemeyer"}
         - 10:30 pm EDT on Thu May 7, 2009
        They were confusing; I feel more stressed now

        Useless! The admin. should have clearly defined a desired outcome on the test before giving any money!Then we would know if bailouts worked

        {"commentId":6949133,"threadId":"573276","contentId":"2789213","authorDomain":"mikeyschultheis"}
        • 1 vote
         - 10:33 pm EDT on Thu May 7, 2009
        I don’t understand them; it seems meaningless

        They're meaningless. Govt has shown us they know nothing about the economy and business. Whatever happend to laissez-faire?

        {"commentId":6949863,"threadId":"573276","contentId":"2789213","authorDomain":"map123"}
        • 1 vote
         - 11:34 pm EDT on Thu May 7, 2009
        I don’t understand them; it seems meaningless

        "Stress test" each American household & dole out money there where taxpayers would actually benefit - don't forget our bonuses!!

        {"commentId":6951690,"threadId":"573276","contentId":"2789213","authorDomain":"pacomiller"}
           - 6:36 am EDT on Fri May 8, 2009
          I don’t understand them; it seems meaningless

          These tests are a facade. The banks are still following their old practices. We need to break them up or let them fail.

          {"commentId":6952867,"threadId":"573276","contentId":"2789213","authorDomain":"bertfw"}
          • 2 votes
           - Bertfw
           - 9:16 am EDT on Fri May 8, 2009
          I don’t understand them; it seems meaningless

          Why do them. The banks are just going to ask for more money anyway. Let them fail and start over. As always just my opinion.

          {"commentId":6957426,"threadId":"573276","contentId":"2789213","authorDomain":"frantran"}
             - 1:18 pm EDT on Fri May 8, 2009
            I don’t understand them; it seems meaningless

            Test requested by the gov that are already standard procedure is just a ruse to quell the concerns of citizens, fox guarding the hen house

            {"commentId":6981657,"threadId":"573276","contentId":"2789213","authorDomain":"enigmatico"}
            • 1 vote
             - 7:53 am EDT on Sun May 10, 2009
            I don’t understand them; it seems meaningless

            It IS meaningless! What a stupid waste of time - typical of the Fed.

            {"commentId":7170795,"threadId":"573276","contentId":"2789213","authorDomain":"lorie-j"}
               - lorie-j
               - 5:52 pm EDT on Tue May 19, 2009
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              Newsvine Discussion with 49 comments - Click here to jump to the comment form.

              Jump to discussion page: 1 2
              {"commentId":6944593,"authorDomain":"shankrobert"}

              The governement needs to do a stress test on the tapayers. The banks have plenty of money and reserves. Not another tax dollar to any bank. Let them fail like the auto companies.

              {"commentId":6944593,"threadId":"573238","contentId":"2789213","authorDomain":"shankrobert"}
              • 4 votes
              Reply#1 - Thu May 7, 2009 6:07 PM EDT
              {"commentId":6944920,"authorDomain":"bryanbegnaud"}

              Ya your idea will do alot of good

              {"commentId":6944920,"threadId":"573238","contentId":"2789213","authorDomain":"bryanbegnaud"}
                #1.1 - Thu May 7, 2009 6:21 PM EDT
                {"commentId":6945846,"authorDomain":"robert-proctor"}

                Bob, you are in fact correct. The current administration is pro-banker and therefore has an obvious conflict of interest. The Federal Reserve Bank should be audited.

                {"commentId":6945846,"threadId":"573238","contentId":"2789213","authorDomain":"robert-proctor"}
                  #1.2 - Thu May 7, 2009 7:03 PM EDT
                  {"commentId":6946135,"authorDomain":"mr28"}

                  Read about the true inception and function of the fed reserve. It sounds like a Madoff "ponzi scheme"! But, with no end and of course no transparency.

                  {"commentId":6946135,"threadId":"573238","contentId":"2789213","authorDomain":"mr28"}
                  • 2 votes
                  #1.3 - Thu May 7, 2009 7:17 PM EDT
                  {"commentId":6947221,"authorDomain":"timgard-1"}

                  Well, at least with the current administration they are requiring that the banks show where the money is and in what method they are using it. Unlike the previous administration that didn't require nothing and certain people through the banking structure were able to run off with the money and no one has any idea where it went because of no paper trail. So if you want to complain about it, simple voice your complains to the GOP. It was their fearless leader Dubya & Paulson who allowed that to happen.

                  {"commentId":6947221,"threadId":"573238","contentId":"2789213","authorDomain":"timgard-1"}
                  • 1 vote
                  #1.4 - Thu May 7, 2009 8:14 PM EDT
                  {"commentId":6948206,"authorDomain":"photons1941"}

                  So you know where and how the money is being used. And you know this HOW!!!

                  {"commentId":6948206,"threadId":"573238","contentId":"2789213","authorDomain":"photons1941"}
                  • 1 vote
                  #1.5 - Thu May 7, 2009 9:26 PM EDT
                  {"commentId":6949196,"authorDomain":"mikeyschultheis"}

                  1. This test should have been done before they got any money!

                  2. They should have determined what a successful test was before thye gave them any money!

                  Now they say...some banks good, some banks bad...all got bailout money...

                  How about: You should have done this well with the money we gave you, you didn't, so...goodbye.

                  {"commentId":6949196,"threadId":"573238","contentId":"2789213","authorDomain":"mikeyschultheis"}
                  • 1 vote
                  #1.6 - Thu May 7, 2009 10:38 PM EDT
                  Reply
                  {"commentId":6944736,"authorDomain":"jackvenable"}

                  Just another "money grab" by the "Democratic Den of 435 Thieves" to better line their pockets with big raises and bonuses..We have the sorriest bunch of socalled leaders in our history .!!

                  {"commentId":6944736,"threadId":"573238","contentId":"2789213","authorDomain":"jackvenable"}
                  • 1 vote
                  Reply#2 - Thu May 7, 2009 6:12 PM EDT
                  {"commentId":6944939,"authorDomain":"bryanbegnaud"}

                  Spoken like a true uniformed neocon repubnik who lets right wing talk radio do their thinking for them.

                  {"commentId":6944939,"threadId":"573238","contentId":"2789213","authorDomain":"bryanbegnaud"}
                  • 1 vote
                  Reply#3 - Thu May 7, 2009 6:22 PM EDT
                  {"commentId":6945741,"authorDomain":"lpmax"}

                  You obviously believe you know everything. If so, YOU PAY FOR THE BAILOUTS AND LEAVE MY MONEY ALONE! Otherwise, all us hard working people will just leave you to pay for the debts all by yourself. DUH, that's what's happening in California! We pay for illegal aliens and stupid women who want 8 kids with no income. Then they tax the large corporations (ya know the ones you believe make so much money-share the wealth, right?). What happens... THEY LEAVE! The jobs go... the income taxes go... and what is left is the debt. Perhaps you should think before you write such ignorant comments.

                  {"commentId":6945741,"threadId":"573238","contentId":"2789213","authorDomain":"lpmax"}
                  • 2 votes
                  #3.1 - Thu May 7, 2009 6:58 PM EDT
                  {"commentId":6946365,"authorDomain":"mprokop"}

                  Dude, if your going to defend your point, do it. Don't point out right, left or otherwise! I take it you like your money. Nice to stop bailing out everyone with it wouldn't it?. After this is done, what happens? Everything is back to normal? No. Just like everything else. There is too much of everything. Let it weed itself out. Retailers, too many. Too many strip malls, too many resturaunts, too much everything! We went crazy. Like everything else , only the strong will survive. I am done with giving to everyone else. Time to take care of my own family and screw the goverment be it republican or democrat!

                  {"commentId":6946365,"threadId":"573238","contentId":"2789213","authorDomain":"mprokop"}
                  • 3 votes
                  #3.2 - Thu May 7, 2009 7:28 PM EDT
                  {"commentId":6946657,"authorDomain":"mr28"}

                  Dude, this is the best and most truthful and appropriate response to anything government!!!!!!!!!!!!!

                  {"commentId":6946657,"threadId":"573238","contentId":"2789213","authorDomain":"mr28"}
                    #3.3 - Thu May 7, 2009 7:42 PM EDT
                    {"commentId":6958558,"authorDomain":"karenmortgagebroker"}

                    Can someone please explain to me why republicans are just "listening to right wing talk show hosts" while the democratic "Sheeple" are all independent thinkers? Yet, most of THEM don't have a clue unless Oprah explains it to them!

                    {"commentId":6958558,"threadId":"573238","contentId":"2789213","authorDomain":"karenmortgagebroker"}
                      #3.4 - Fri May 8, 2009 2:12 PM EDT
                      Reply
                      {"commentId":6945376,"authorDomain":"mr28"}

                      Hey Obama....get rid of summers or just go to the blah blah blah bank of the people. This is where we have the money to pay the extreme money paid to an incompetant executive work force. As Warren Buffet said, "a good economist is one that guessed right".

                      This is seeming more like the last administration, "laws dont apply to the top 1 percent"!

                      {"commentId":6945376,"threadId":"573238","contentId":"2789213","authorDomain":"mr28"}
                      • 1 vote
                      Reply#4 - Thu May 7, 2009 6:42 PM EDT
                      {"commentId":6945454,"authorDomain":"lpmax"}

                      I agree with you Bob.... seems like Bryanb likes Socialism. Let's help out everyone else with MY hard-earned money. I bet you are one of those receipiants aren't you. If you like the bail out process.... then YOU bail out the banks and everyone else with YOUR money!

                      You can have your CHANGE TO SOCIALISM!

                      {"commentId":6945454,"threadId":"573238","contentId":"2789213","authorDomain":"lpmax"}
                        Reply#5 - Thu May 7, 2009 6:45 PM EDT
                        {"commentId":6947110,"authorDomain":"tntfusco-1"}

                        END SOCIALISM ! CLOSE ALL PUBLIC FUNDED SCHOOLS NOW ! CLOSE ALL PUBLIC FUNDED HOSPITALS !

                        Linda bet you dont see the public school system as "SOCIALISM" do you? GUESS WHAT -IT IS . lol your a dope limbaugh and bill the luffa listener .

                        {"commentId":6947110,"threadId":"573238","contentId":"2789213","authorDomain":"tntfusco-1"}
                          #5.1 - Thu May 7, 2009 8:07 PM EDT
                          {"commentId":6949230,"authorDomain":"mikeyschultheis"}

                          Weird, bailouts resemble investments. It USED TO BE that we got to choose who we invested with. I WOULD NEVER INVEST WITH A COMPANY ON THE BRINK OF BANKRUPTCY!

                          {"commentId":6949230,"threadId":"573238","contentId":"2789213","authorDomain":"mikeyschultheis"}
                          • 1 vote
                          #5.2 - Thu May 7, 2009 10:41 PM EDT
                          Reply
                          {"commentId":6945462,"authorDomain":"ilive4this"}

                          You know Bryanb, although I laughed at the term "repubnik", the repubnik's point does bring out something that cant be denied.

                          Too much emphasis is being placed on one side of the seesaw and not enough on the other. At what point does this cause a break?

                          {"commentId":6945462,"threadId":"573238","contentId":"2789213","authorDomain":"ilive4this"}
                            Reply#6 - Thu May 7, 2009 6:45 PM EDT
                            {"commentId":6945653,"authorDomain":"mr28"}

                            This is not as much socialism as it is failed capitalism. These people that thought the "fox"could be trusted to do the right thing in the hen house were the fox. Just look at how a mojority of the "major corporations" are working to protect the excutives pay regardless of performance. Look at the financial institutions that are spending my "forced bail out" money to lobby congress. Remember them, the guys that we the people elected to represent us.

                            {"commentId":6945653,"threadId":"573238","contentId":"2789213","authorDomain":"mr28"}
                            • 1 vote
                            Reply#7 - Thu May 7, 2009 6:54 PM EDT
                            {"commentId":6949276,"authorDomain":"mikeyschultheis"}

                            If we let capitalism play out, the fox would be killed by the farmer.

                            But because we have invoked socialism, the fox now gets more hens ("donated" by other farmers), until it knows how to be nice to them (which won't happen). The fox will pretend to play nice until everyone turns their backs, then it will eat even more hens, causing the downfall of the entire hen population.

                            Only solution: Kill the fox before he gets more hens.

                            {"commentId":6949276,"threadId":"573238","contentId":"2789213","authorDomain":"mikeyschultheis"}
                            • 2 votes
                            #7.1 - Thu May 7, 2009 10:45 PM EDT
                            Reply
                            {"commentId":6945687,"authorDomain":"temple62"}

                            Just say, "NO"!  Banks have been screwing the public for years, paltry returns on savings accounts, admin fees, excessive overdraft fees and lousy shareholder returns to investors.  It is time to start paying back to the taxpayers where all the money comes from anyway.  I am disgusted hearing about "government bailouts", the government uses taxpayers money since it has none of it's own and neither do the Obamas.

                            {"commentId":6945687,"threadId":"573238","contentId":"2789213","authorDomain":"temple62"}
                            • 1 vote
                            Reply#8 - Thu May 7, 2009 6:56 PM EDT
                            {"commentId":6945782,"authorDomain":"Hemicuda"}

                            If anyone thinks our banking/government finance/Federal reserve really knows what their doing besides getting themselves rich, I have a great deal on some beachfront property for you........................

                            {"commentId":6945782,"threadId":"573238","contentId":"2789213","authorDomain":"Hemicuda"}
                            • 2 votes
                            Reply#9 - Thu May 7, 2009 7:00 PM EDT
                            {"commentId":6945862,"authorDomain":"mr28"}

                            I hear the "W" is looking for beach front property.

                            {"commentId":6945862,"threadId":"573238","contentId":"2789213","authorDomain":"mr28"}
                              #9.1 - Thu May 7, 2009 7:04 PM EDT
                              Reply
                              {"commentId":6946010,"authorDomain":"paint4us"}

                              I went to the Post Office today. If anyone has any illusions that Federal Government knows what they are doing; then visit the post office. And they gonna raise rates again.

                              Blind leading the blind.

                              {"commentId":6946010,"threadId":"573238","contentId":"2789213","authorDomain":"paint4us"}
                                Reply#10 - Thu May 7, 2009 7:11 PM EDT
                                {"commentId":6946203,"authorDomain":"wegendt"}

                                BETTER than 1929

                                {"commentId":6946203,"threadId":"573238","contentId":"2789213","authorDomain":"wegendt"}
                                  Reply#11 - Thu May 7, 2009 7:20 PM EDT
                                  {"commentId":6946511,"authorDomain":"rdmzakk"}

                                  The Bank officers are supposed to be doing their job, which is to make money for the bank. Since they are not ... FIRE THEM AND GET SOMEONE WHO CAN PERFORM. This stress test is just a way of softening up the taxpayers so that BIG BANKS can get government handouts. WELFARE IS FOR PEOPLE WHO NEED IT FOR BASIC HUMAN NECESSITIES, NOT TO ACCOMMODATE A MULTI-MILLION DOLLAR LIFESTYLE.

                                  There is NO common sense in any of this BAILOUT WELFARE?

                                  {"commentId":6946511,"threadId":"573238","contentId":"2789213","authorDomain":"rdmzakk"}
                                  • 1 vote
                                  Reply#12 - Thu May 7, 2009 7:35 PM EDT
                                  {"commentId":6946560,"authorDomain":"captmdsmith"}

                                  Hey we all need a bail out, the little people not the big banks tath got us into this mess. HELP OUT the people that earn the money not the ones that WASTE it all. give us the 10 Billion dollar relief and prosacute the bankers and Govt officials that let it happen. this is TREASON against the PEOPLE of this country it's not just a mistake or something that happened. it's GREED

                                  {"commentId":6946560,"threadId":"573238","contentId":"2789213","authorDomain":"captmdsmith"}
                                  • 1 vote
                                  Reply#13 - Thu May 7, 2009 7:37 PM EDT
                                  {"commentId":6947525,"authorDomain":"donmcc09"}

                                  Hey Captain Mark,

                                  Which is it, TREASON or GREED? I agree that the movers and shakers in the mortgage banking industry got caught up in the gazillions to be made in the derivates markets, but those instruments where so complex, even the experts had trouble understanding how they were negotiated. Anyway, as a whole a few thousand made millions, and that has unfortunately brought down the auto industry, the mortgage industry, and affected every gainfully employed American.

                                  And yes, the Federal Govt. is notorious for wasteful spending, pork barrel constituent legislation, and the average American worker foots the bill. So, what is the solution? Who knows?

                                  {"commentId":6947525,"threadId":"573238","contentId":"2789213","authorDomain":"donmcc09"}
                                    #13.1 - Thu May 7, 2009 8:34 PM EDT
                                    Reply
                                    {"commentId":6946737,"authorDomain":"mertz-1"}

                                    Let them fail just like the small businessmen.......Everyone should be treated the same....

                                    {"commentId":6946737,"threadId":"573238","contentId":"2789213","authorDomain":"mertz-1"}
                                      Reply#14 - Thu May 7, 2009 7:46 PM EDT
                                      {"commentId":6946790,"authorDomain":"mertz-1"}

                                      postal service----- buy up the "FOREVER" stamps. post cards will be .28 cents......

                                      {"commentId":6946790,"threadId":"573238","contentId":"2789213","authorDomain":"mertz-1"}
                                        Reply#15 - Thu May 7, 2009 7:49 PM EDT
                                        {"commentId":6946832,"authorDomain":"BlueMoonARising"}

                                        I think these "stress tests" are useless. Who can say which loans will go bad and which won't? Our economy is so complex that no one can say what is going to happen even in the next few months.

                                        {"commentId":6946832,"threadId":"573238","contentId":"2789213","authorDomain":"BlueMoonARising"}
                                        • 1 vote
                                        Reply#16 - Thu May 7, 2009 7:51 PM EDT
                                        {"commentId":6947010,"authorDomain":"guitohill"}

                                        Just Like I read somewhere before: "If the banks are to big to fail, They're too big to exist."

                                        {"commentId":6947010,"threadId":"573238","contentId":"2789213","authorDomain":"guitohill"}
                                        • 1 vote
                                        Reply#17 - Thu May 7, 2009 8:01 PM EDT
                                        {"commentId":6947087,"authorDomain":"eecsbear"}

                                        I hope the intention of the stress test is not: if Bank X needs $20B to survive the recession, then we the taxpayers will lend that amount to them... other than that, it really seems meaningless what the actual point of the stress test may be.

                                        {"commentId":6947087,"threadId":"573238","contentId":"2789213","authorDomain":"eecsbear"}
                                          Reply#18 - Thu May 7, 2009 8:05 PM EDT
                                          {"commentId":6947211,"authorDomain":"guitohill"}

                                          I need a Bailout!!! But Im not greedy I dont want billions or millions; 100k will do just fine for me and Ill never ask for another penny.

                                          I agree with captain mark its treason and greed.

                                          I dare Obama to consult me on such matters as someone needs to stand up for the American Public because our reps. aren't helping us!

                                          {"commentId":6947211,"threadId":"573238","contentId":"2789213","authorDomain":"guitohill"}
                                          • 1 vote
                                          Reply#19 - Thu May 7, 2009 8:14 PM EDT
                                          {"commentId":6947438,"authorDomain":"jharrington74"}

                                          We need a new slogan...Howabout too small to fail. These fat cats just keep goin to the trough any time they need (want) money. Meanwhile the small businesses that enrich the average americans life is forced out of business. For instance what does AIG do for you on a daily basis????? (Don't get me started on insurance companies) NOTHING they don't benefit ANYONE, on an ongoing basis that is, except politicians who get their PAC money.... Meanwhile the small businesses we count on every day (the neighborhood restaurant, or hardware store etc...) just fall by the wayside while their tax dollars go to corporations. companies that that gets bailout money shouldn't be allowed to make political contributions. What happened when GM announced at the end of Q408 that they would no longer be making political contributions???? BHO decided they needed new leadership. We need to wake up!! P.S. I was in the banking business for 7 years (just a peon) and I saw what was coming. I am shocked that we aren't calling for revolution... Apathy is the new american way I guess....

                                          {"commentId":6947438,"threadId":"573238","contentId":"2789213","authorDomain":"jharrington74"}
                                            Reply#20 - Thu May 7, 2009 8:28 PM EDT
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