Treasury Says ‘No Basis’ to Report on Bank Testing
By Vincent Del Giudice and Nick Baker
April 20 (Bloomberg) -- A U.S. Treasury spokesman said there’s no basis to a blog posting that buffeted financial stocks by saying that most of the nation’s largest banks are insolvent.
Andrew Williams, a Treasury spokesman, dismissed the report from Hal Turner of North Bergen, New Jersey, “particularly given we don’t have stress test results yet.
Does anyone believe that they don't have results, or what they later will call "Preliminary Results" of these stress tests? Or that they will tweak parameters until they get the "results" they want?
What sayeth the markets?I can't find the Treasury's denial reflected on that chart, can you?