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Deep Recession Test: Banks told by Fed to test for 12% unemployment

 
Saratonin
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User ID: 6418504
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11/15/2012 05:12 PM

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Deep Recession Test: Banks told by Fed to test for 12% unemployment
Greece here we come!

[link to www.marketwatch.com]
The Federal Reserve is asking 30 big banks to make sure their capital can withstand a deep recession in which the unemployment rate rises to 12%.

The Fed, which first required big banks to conduct “stress tests” in 2009, laid out three scenarios lenders have to test against. The goal is to ensure that the firms have enough capital to continue operations during stressful economic times.

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Anonymous Coward
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11/15/2012 05:17 PM
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Re: Deep Recession Test: Banks told by Fed to test for 12% unemployment
Which would make the real unemployment rate somewhere around 35 - 40%...
Saratonin (OP)

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11/15/2012 05:18 PM

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Re: Deep Recession Test: Banks told by Fed to test for 12% unemployment
Which would make the real unemployment rate somewhere around 35 - 40%...
 Quoting: Anonymous Coward 27824483


Bingo!

The question is why now? Didn't they have enough of a test with our 'previous' high unemployment?

They know its all going to crash.
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