Citigroup Fails Another Stress Test

By: Thursday March 27, 2014 2:00 pm

Six years after the financial crisis Citigroup has failed a stress test by the Federal Reserve. Citigroup’s capital plan included a quintupling of its dividend but Fed regulators wanted the Too Big To Fail bank to hold onto more capital.

 

The Party Line – September 16, 2011: Though Nuclear Crisis Continues, IAEA Can’t Force Safety Overhaul

By: Friday September 16, 2011 3:26 pm

On Monday, September 12, an incinerator explosion at a French nuclear waste processing center killed one, injured four, and created just enough nuclear news to edge this week’s other nuclear story right out of the headlines.

The explosion, which is reported not to have caused any leak of radiation, was at a facility that reprocesses used nuclear reactor fuel in order to create a more toxic, less stable form of fuel commonly known as “mixed oxide” or MOX. MOX, which is a tasty blend of uranium and plutonium, was in at least some of the rods in some of the reactors at Japan’s Fukushima Daiichi facility when it suffered catastrophic failures after the March 11 earthquake and tsunami–and the presence of MOX fuel made the fallout from explosions at the Japanese plant more dangerous as a result. (More dangerous than already extremely dangerous might seem like a trivial addendum, but it is of note if for no other reason than the manufacture and use of MOX fuel is what nuclear power proponents think of when they call it a “renewable resource.”)

Bernanke Tries to Defend the Fed

By: Sunday November 29, 2009 4:00 pm

The worst is the folks at the Fed clearly believe the bogus stress tests were a meaningful exercise. That alone should disqualify them from getting a bigger role in bank supervision. And if you read their pronouncements, they plan to continue to use them, and have the process run by….a monetary economist! Help me! Bernanke also conveniently ignores the fact that the rally might also have a wee bit to do with the fact that he threw a bit over $1 trillion at the markets, as announced in mid-March.

I could go on, but you get the picture. The Fed seems to believe its own PR.

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