Thank God! "Banks pass Fed's STRESS TESTS" (Time to start worrying???!!!)

According to a Business Insider article, "On Wednesday, the Fed said all of the 34 banks had passed the second, tougher part of its annual stress test, showing that many of the biggest lenders have not only built up adequate capital levels but also improved their risk management procedures. "

I've heard a lot, lately, about how the economy is doing just fine, and that unemployment is 4.7 percent, and on and on about how well the stock market is doing.

It seems there's a lot more of these rosy-outlook pronouncements than necessary.

If everything was doing so damn good, they wouldn't have to keep telling us, "hey, everything is doing great and the future's so bright, I gotta wear shades!"

And these bank "stress tests?" What the hell is that all about? Everything is just fine! Right?

BTW, I'd love to see how they do these so-called "stress tests." I'd love to see their official reports and methods and how they are used to gauge a bank's "health." I'm just guessing they're using some hocus-pocus, black box, secret-formula kind of crap that they can manipulate to make whatever conclusions they want, in order to report a sunshiny day at the beach. You know - like how the unemployment rate is 4.7 percent. I've got to call "TOTAL BULLSHIT" on that one!

Whenever I hear these political and financial figureheads come out to make a special appearance to declare that "all is well," I start to think, Wow!, things must really be bad.

STORY SOURCE:

http://www.businessinsider.com/fed-stress-tests-big-banks-pass-capital-one-resubmit-2017-6