winepressnews.com
Concerns over the banking crisis have once again re-emegered after it was revealed that Goldman Sachs, one of Wall Street’s top players, failed the Federal Reserve’s stress test and revealed that others are not on solid footing either.
In 2008, the Feds introduced a stress test annually that put the banks’ books through a series of simulated possibilities, marking to see if these hefty institutions could handle serious economic turmoil and events. This year it was revealed that Goldman Sachs actually failed.
The fine data from this year’s results can be viewed on the Fed’s website.
The Institutional Risk Analyst explained what the data represents:
Just by coincidence, Stephen Gandel and Joshua Franklin of the FT wrote an important piece last week reporting on the results for Goldman Sachs. They suggest that the bank is attempting to change the Fed stress test results. “Goldman Sachs faces long odds in getting the Federal Reserve to reconsider its disappointing grade in this year’s bank stress tests, according to regulatory experts,” they relate…
READ FULL ARTICLE HERE… (winepressnews.com)
Home | Caravan to Midnight (zutalk.com)
