Fed ordered banks to stress test at 11% unemployment

[turkeyneck]

Feb. 17 (Bloomberg) -- The Federal Reserve ordered the 19 largest U.S. banks to test their capital levels against a scenario of renewed recession with unemployment rising above 11 percent, said two people with knowledge of the review.

http://noir.bloomberg.com/apps/news?pid=20601087&sid=amucBcD8FcIk&pos=1

 

[T_Geithner]

Because they know the 10% unemployment is never going away.

US is the next UK. And the shitty UK is the next Ireland. And Ireland is the next shithole of the planet.