Repeat Bank Stress Tests 'Right Now': TARP Panel Chair

[Pale Blue Dot]

Source: CNBC

The Congressionally-appointed panel overseeing the Troubled Asset Relief Program (TARP) recommends running again the stress tests on US banks, as economic conditions have worsened, its chair, Harvard University professor Elizabeth Warren, told CNBC Tuesday.

"We actually make recommendations to do it all over again right now," Warren told "Squawk Box."

"We've already blown past the worst-case scenario on unemployment," she added.

Under the tests, whose results were released in May, the Obama administration asked federal regulators to examine how financial institutions would hold up under two different economic scenarios as well as how much new capital they would need to raise to shore up their balance sheets.

Read more: http://www.cnbc.com/id/31183773

[Bonhomme Richard]

1. I don't see Elizabeth Warren lasting in that position.....

too much longer. I really do think that, as far as tarp is concerned, she is the only one between them and us.

[Romulox]

2. They're going to ignore the first stress tests, because too many banks failed. nt

[PurityOfEssence]

3. But...they got the results they wanted...

They're our betters; we should know that they can create their own reality.