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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (113251)	7/23/2010 2:39:28 PM
From: Haim R. Branisteanu	2 Recommendations Read Replies (1) \| Respond to of 116555

Based on the market reaction the EU "stress test" does not have a lot of credibility, but on the other hand to many US banks are still closing. Bottom line IMHO all those "stress tests" are hog wash - in the US a stress test was done in May 2009 since RE prices are still falling, close to 10% since May 2009, home foreclosures are up and over 200 banks which did not participate in the "stress test" are closing down with assets in the 4 to 5 trillion range. Assuming a 10% haircut it is bigger than the Lehman bankruptcy AFTER a successful US “stress test” so in a nutshell it is all HOGWASH both in the EU and on US banks

To: Hawkmoon who wrote (113251)	7/24/2010 2:53:54 AM
From: Haim R. Branisteanu	Read Replies (2) \| Respond to of 116555

So much for those "stress tests" Five U.S. bank failures raises 2010 tally to 101 SAN FRANCISCO (MarketWatch) -- Five U.S. bank failures have raised the year's total to 101, according to the Federal Deposit Insurance Corp. on Friday. The largest of the five, Crescent Bank and Trust Co. in Jasper, Ga., will have its $965.7 million in deposits assumed by Renasant Bank (RNST 14.23, +0.35, +2.52%) of Tupelo, Miss. Sterling Bank of Lantana, Fla. will have its $372.4 million in deposits assumed by Iberiabank (IBKC 50.21, -0.20, -0.40%) of Lafayette, La. First Citizens Bank and Trust Co. of Columbia, S.C. will assume the $134.3 million in deposits from Williamsburg First National Bank of Kingstree, S.C. Bennington State Bank of Salina, Kan., will assume the $28.5 million in deposits at Thunder Bank of Sylvan Grove, Kan. Finally, Roundbank of Waseca, Minn. will assumes the $108 million in deposits at Community Security Bank of New Prague, Minn. The total cost for the five banks to the deposit-insurance fund will be $319.8 million