Friday, April 24, 2009

Whistling past the graveyard...

On 4/21, I posted some links to a blogger who pretty much seemed like a conspiracy theorist whose credibility was questionable, but he had gotten some things right before the news media caught up with him recently, and this story was too serious to ignore if he's proven correct again.

Today the Federal Reserve released the Stress Test assumptions- in other words, the rules/statistics that have been plugged in to the test, to measure the banks' ability to withstand further degradation of the economy.

These numbers are exactly the same numbers that the blogger cited in the report he obtained last week. This doesn't mean that 16 of the biggest 19 banks in America will be declared insolvent when the report is released on May 4, but so far, the blogger has been too accurate to just be making this up...

We're all screwed.


Don't worry, there's no video on this post.