10 worst business predictions of 2011 – The banks are healthy – CNNMoney

Photo of AIB International Finance Centre in D...

The banks are healthy – 1 of 10

In July, one of the banks passing the European Banking Authority’s stress tests sent out a press release cheering the results. “2011 EU-wide Stress Test Results: No Need for Dexia to Raise Additional Capital,” it read. Three months later, the Brussels-based bank required a government bailout to avoid collapse.

So was the story of the summer’s stress tests: they seemed less a true test than a giant charade. Critics jumped on the EBA for giving Drexia and others a clean bill of health for 2011 when anything but the most generous kind of accounting showed the opposite. No doubt investors were reminded of the European stress tests just a year prior, when a group of banks who passed stress tests, including Bank of Ireland and Allied Irish Banks, soon floundered.

via 10 worst business predictions of 2011 – The banks are healthy 1 – CNNMoney.

Strange Random Bank Quote:

Drive-in banks were established so most of the cars today could see their real owners. – E. Joseph Cossman

 

Enhanced by Zemanta
Advertisements

Posted on December 31, 2011, in Article and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: