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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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