Bank Stress Tests are the ultimate insult to the comman man, including Bankers. What a complete pile of dung, compunded by the fact that some very highly paid and upper-echelon government employees compiled them.
Anybody can write a report on anything and to any end; design of these stress reports is to provide stability to the financial markets. The reports may achive their aim but it does not mitigate the facts that they are pathetic in content and in-reality - I don't see any need to justify this statement as everybody knows the truth anyway. They just can't accept it or need to promote such garbage in defence of their own strategy.
We always knew that the banks would fail in the first place but we were blinkered. Those very same stress test creators once chanted "it is in the best interests of a company to amass large debts to progress". As a society we were all led to believe that having debt was acceptable behaviour, the days of being shunned by society for taking a loan have long since been replaced by collective agreement that loans are necessary to survival and future operation.
I grew up actually believing that the only way that a company/person could survive was to be in debt - it took the collapse of the banks to tell me otherwise.
Now we have banks telling us that they are really all okay and that, well, perhaps it is time to take out a loan again!
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