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March 3, 2009

Guess who will run stress tests? Banks

  • The tests are intended to bolster confidence in the banking system, but with this structure, they might not.
    AP Business Writer

    NEW YORK — Lost in all the hype over the just rolled-out “stress tests” of the nation's banks is this noteworthy fact: The banks are going to do some analysis of their books by themselves.

    If anything has been learned from the current crisis, it's that banks are terrible at assessing their financial health. They've repeatedly downplayed the size of losses and their capital cushions since the meltdown in the industry began nearly two years ago.

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