The Fed is still doing its job!

quote:

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The Fed says the 19 companies that hold one-half of the loans in the U.S. banking system won't be allowed to fail — even if they fared poorly on the stress tests.

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Lol, we're going to pretend to see if you're viable, but even if you aren't, we still are gonna waste money on you.

This guy is not taking the FEDs shite:

quote:

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TCF Chairman and CEO William A. Cooper said the bank had maintained a strong capital position over the last year through its own operations, and it didn’t need to rely on the public capital infusion to continue its traditional lending pace. Cooper said TCF is the largest bank to pay back TARP funds to the U.S. Treasury. TCF’s executives had complained that Treasury and the U.S. Congress had subverted the TARP program by changing its rules after banks had joined.

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LINK



to this CEO.

Russian,

I will grant you that closing down shops based off what if scenarios is not their job.

But under that logic, cant it be said that doing a stress test exercise period, is not their job... nevermind providing funding to those in fail.

I guess my point is, how is any of this they are doing 'their job', whether they force the institutions to fail or 'bail' them out or be loan sharks too etc...