Wednesday, April 15, 2009

Not Funny Ha Ha

The WSJ is reporting the latest leak from Geithner and company - that they are "considering" revealing "some" of the results of the bank stress tests that have been going on. The stress tests are designed to determine how much more capital the largest U.S. banks will need in the event of a further deterioration in economic conditions.

"It isn't clear precisely what information the government might disclose. It remains possible the data won't be specific to individual banks. But some within the administration believe a certain amount of information needs to be released in order to provide assurance about the validity and rigor of the assessments."

The public deserves some detail as to what the real story is. There are plenty of people who believe that no companies should have gotten any money, that the old boys are just looking out for each other, and that there is no accounting for where the money went.

Not disclosing the true current health of the banks would raise more questions about TARP and TALF and why we are here. Answers would be nice. It might even be good news.

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