[ki11ercane]

Love him, hate him, then hate him some more, Bloomberg reports the Stress Test results were leaked and they link to Hal Turner's blog. Don't shoot the messenger. link

LEAKED! Bank Stress Test Results!
The Turner Radio Network has obtained "stress test" results for the top 19 Banks in the USA. (Corrections/clarifications below in orange) The stress tests were conducted to determine how well, if at all, the top 19 banks in the USA could withstand further or future economic hardship.

When the tests were completed, regulators within the Treasury and inside the Federal Reserve began bickering with each other as to whether or not the test results should be made public. That bickering continues to this very day as evidenced by this "main stream media" report.

[heroineworshipper]

Do U really expect a government stress test to say banks are insolvent? We're still waiting for a government inflation report to show the 38% rise in prices since TARP 1.0.

[Tyler_JC]

If you read the link you will discover that 16 out of 19 of the top US banks ARE insolvent.

Using the government's own BS test, the vast majority of the country's top banks are insolvent.

Of those 16 banks, none could survive a disruption of cash flow without new government taxpayer money.

The 5 largest banks are so under-capitalized that there is "serious doubt about their ability to continue as ongoing businesses".

The results of the Stress Test are in, the banks failed.

[jasonraymondson]

Excellent!

[Novus]

This is huge. HUGE I tell you. All the gains made in the last six weeks' stock market rally could evaporate within days. All the suckers who bought into the the "recovery" will get wiped out all over again. But get ready this time there could be fireworks.

[jasonraymondson]

Novus, it will crash when it crashes and not a moment to soon. Go take a walk and calm down.

[RdSnt]

So, let's see the report.

[Delphis]

So, let's see the report.

I agree Rd, I do find it interesting that later in the day HT said the fed called him and asked for the report:

http://turnerradionetwork.blogspot.com/

Why wouldn't HT just post the report?

Anyone?

Anyone?

[jasonraymondson]

So, let's see the report.

I agree Rd, I do find it interesting that later in the day HT said the fed called him and asked for the report:

http://turnerradionetwork.blogspot.com/

Why wouldn't HT just post the report?

Anyone?

Anyone?

He makes shit up?
He is racist piece of shit xenophobe?
He has a tiny penis?
He just wants to be a tiny dicked little bitch who wants people to think he is tougher than he is and he actually turned the document over, but then went on his blog to write about a wonderful hard biting tough as jails journalist he is?
He has an Electra complex?

[Delphis]

So, let's see the report.

I agree Rd, I do find it interesting that later in the day HT said the fed called him and asked for the report:

http://turnerradionetwork.blogspot.com/

Why wouldn't HT just post the report?

Anyone?

Anyone?

He makes shit up?
He is racist piece of shit xenophobe?
He has a tiny penis?
He just wants to be a tiny dicked little bitch who wants people to think he is tougher than he is and he actually turned the document over, but then went on his blog to write about a wonderful hard biting tough as jails journalist he is?
He has an Electra complex?

Well that is the hardest I have laughed at a PO post in some time, thanks JRM!

I am fascinated to find out if the Fed did call him and if he has some part of the actual results...?

[shortonoil]

jasonraymondson said:

He makes shit up?
He is racist piece of shit xenophobe?
He has a tiny penis?
He just wants to be a tiny dicked little bitch who wants people to think he is tougher than he is and he actually turned the document over, but then went on his blog to write about a wonderful hard biting tough as jails journalist he is?
He has an Electra complex?

The Turner Radio Network has obtained the stress test results. They are very bad. The most salient points from the stress tests appear below.

1) Of the top nineteen (19) banks in the nation, sixteen (16) are already technically insolvent.

2) Of the 16 banks that are already technically insolvent, not even one can withstand any disruption of cash flow at all or any further deterioration in non-paying loans.

3) If any two of the 16 insolvent banks go under, they will totally wipe out all remaining FDIC insurance funding.

4) Of the top 19 banks in the nation, the top five (5) largest banks are under capitalized so dangerously, there is serious doubt about their ability to continue as ongoing businesses.

5) Five large U.S. banks have credit exposure related to their derivatives trading that exceeds their capital, with four in particular - JPMorgan Chase, Goldman Sachs, HSBC Bank America and Citibank - taking especially large risks.

6) Bank of America`s total credit exposure to derivatives was 179 percent of its risk-based capital; Citibank`s was 278 percent; JPMorgan Chase`s, 382 percent; and HSBC America`s, 550 percent. It gets even worse: Goldman Sachs began reporting as a commercial bank, revealing an alarming total credit exposure of 1,056 percent, or more than ten times its capital!

7) Not only are there serious questions about whether or not JPMorgan Chase, Goldman Sachs,Citibank, Wells Fargo, Sun Trust Bank, HSBC Bank USA, can continue in business, more than 1,800 regional and smaller institutions are at risk of failure despite government bailouts!

The debt crisis is much greater than the government has reported. The FDIC`s "Problem List" of troubled banks includes 252 institutions with assets of $159 billion. 1,816 banks and thrifts are at risk of failure, with total assets of $4.67 trillion, compared to 1,568 institutions, with $2.32 trillion in total assets in prior quarter.

Put bluntly, the entire US Banking System is in complete and total collapse.

For anyone who hasn’t been spending the last decade living under a rock - on the other side of the river, why would this report be a surprise??????

Inferring that Turner may be guilty of non truths by saying “He has a tiny penis?” is like accusing the iceberg watchman on the Titanic of incompetence because he has a zit inside of his nose.

Anyway, if Turner was only after cheap sensationalism, he should have added to the list the present situation of GE Capital! Now ... that would have really stopped some hearts.

[Delphis]

jasonraymondson said:

He makes shit up?
He is racist piece of shit xenophobe?
He has a tiny penis?
He just wants to be a tiny dicked little bitch who wants people to think he is tougher than he is and he actually turned the document over, but then went on his blog to write about a wonderful hard biting tough as jails journalist he is?
He has an Electra complex?

The Turner Radio Network has obtained the stress test results. They are very bad. The most salient points from the stress tests appear below.

1) Of the top nineteen (19) banks in the nation, sixteen (16) are already technically insolvent.

2) Of the 16 banks that are already technically insolvent, not even one can withstand any disruption of cash flow at all or any further deterioration in non-paying loans.

3) If any two of the 16 insolvent banks go under, they will totally wipe out all remaining FDIC insurance funding.

4) Of the top 19 banks in the nation, the top five (5) largest banks are under capitalized so dangerously, there is serious doubt about their ability to continue as ongoing businesses.

5) Five large U.S. banks have credit exposure related to their derivatives trading that exceeds their capital, with four in particular - JPMorgan Chase, Goldman Sachs, HSBC Bank America and Citibank - taking especially large risks.

6) Bank of America`s total credit exposure to derivatives was 179 percent of its risk-based capital; Citibank`s was 278 percent; JPMorgan Chase`s, 382 percent; and HSBC America`s, 550 percent. It gets even worse: Goldman Sachs began reporting as a commercial bank, revealing an alarming total credit exposure of 1,056 percent, or more than ten times its capital!

7) Not only are there serious questions about whether or not JPMorgan Chase, Goldman Sachs,Citibank, Wells Fargo, Sun Trust Bank, HSBC Bank USA, can continue in business, more than 1,800 regional and smaller institutions are at risk of failure despite government bailouts!

The debt crisis is much greater than the government has reported. The FDIC`s "Problem List" of troubled banks includes 252 institutions with assets of $159 billion. 1,816 banks and thrifts are at risk of failure, with total assets of $4.67 trillion, compared to 1,568 institutions, with $2.32 trillion in total assets in prior quarter.

Put bluntly, the entire US Banking System is in complete and total collapse.

For anyone who hasn’t been spending the last decade living under a rock - on the other side of the river, why would this report be a surprise??????

Inferring that Turner may be guilty of non truths by saying “He has a tiny penis?” is like accusing the iceberg watchman on the Titanic of incompetence because he has a zit inside of his nose.

Anyway, if Turner was only after cheap sensationalism, he should have added to the list the present situation of GE Capital! Now ... that would have really stopped some hearts.

I totally agree short, I only laughed because I was caught by surprise. I think HT is good reading and, as I said, really look forward to seeing what he got his hands on...or heard from a reliable source.

I think we all were expecting the news that the banks are tetering on the edge of the abyss, what I wasn't expecting was to catch the Fed in a bold, blatant, and undeniable lie.

Cheers!

[gnm]

what I wasn't expecting was to catch the Fed in a bold, blatant, and undeniable lie.

Like thats unusual? I've lost count of them....

-G

[TheDude]

Excellent!

[kiwichick]

so if this turner dude has the good oil whats with geitners testamony saying everythings honkydory?

is someone telling porkies here?
turner and geithner can't both be right
and JFK was taken out of play by a lone gunman ; a crazy communist right? hello!!!!

[mos6507]

You know how this is going to play out. When the official report comes out, if it says the banks are f*cked, then we'll all say "I told you so". If it says the banks can be salvaged, then we'll all say "the report can't be trusted". So why does this report even matter? We've already made up our minds about the state of the banks and there is complete distrust in everything the government does or says. All data is fake, all market movement is "manipulated" to benefit TPTB, so there really is nothing left to discuss, is there? For those who have taken the fatalism red pill, it's time to just tune out.

[shortonoil]

mos6507 said:

You know how this is going to play out. When the official report comes out, if it says the banks are f*cked, then we'll all say "I told you so". If it says the banks can be salvaged, then we'll all say "the report can't be trusted". So why does this report even matter? We've already made up our minds about the state of the banks and there is complete distrust in everything the government does or says. All data is fake, all market movement is "manipulated" to benefit TPTB, so there really is nothing left to discuss, is there? For those who have taken the fatalism red pill, it's time to just tune out.

Citi is one of the banks on that list of 19. It has $900 billion (like in real close to $1 trillion) in liabilities and $36 billion in assets. If it comes back as OK on the stress test, what other explanation could there be than the government is lying right out through their A-hole.

We already have the figures on many of these institutions; so we know their condition. This exercise is simply a matter of determining the extent of the pack of lying thieves and vandals that exist in Washington and on Wall Street.

[Buggy]

Whatever the report will say, accuracy will be evaded. I watch in disbelief as this all unfolds. I am simply at a loss at this point. Completely.

[yesplease]

Citi is one of the banks on that list of 19. It has $900 billion (like in real close to $1 trillion) in liabilities and $36 billion in assets.

Source?

[IslandCrow]

1) Of the top nineteen (19) banks in the nation, sixteen (16) are already technically insolvent. (Based upon the “alternative more adverse” scenario which had a 3.3 percent contraction of the U.S. Economy in 2009, accompanied by 8.9 percent unemployment, followed by 0.5 percent growth of the U.S. Economy but a 10.3 percent jobless in 2010.)

The bit in the brackets and orange was added later as a clarification. I may be particularly dense today, but he seems to be mixing up the current with the future. The qualification to me seems to say that the banks WILL BECOME insolvent, under the "alternative more adverse" senario, and the time frame given seems to be into 2010. This does not justify saying that the banks are insolvent NOW.

As far as I know the banks may well be insolvent now, but to claim it on the basis of a future senario (even if it seem mild to the doomers here) is very sloppy logic, especially if one is not prepared to release the source document.