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In either the case of the US or European Stress Tests, calling the methodology employed "a rookie mistake" is being generous in your assumptions about the intent and probably overly harsh in your assumptions about their competence. I see little evidence that, in either case, the intent was to test a reasonable worst case situation, but rather to insure that all but the most laughable cases got a pass, and there was a struggle about even the laughable cases, such as Hypo bank.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Dec 4th, 2010 at 12:53:19 PM EST
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hey econo-wonkers, here's a dumb question from the bleachers:

what is the equivalent of Wall St. in the EU?

are there parallels with the ECB?

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Tue Dec 7th, 2010 at 05:28:02 PM EST
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"The City" - now being challenged by Frankfurt

Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Tue Dec 7th, 2010 at 06:19:52 PM EST
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