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Bonds Are a 'Safe' Investment: A Big Lie Gets Even BiggerA source speaking on the condition of anonymity said: "the largest banks are well capitalized for current conditions."
If this is true why doesn't someone tell these bankers to "knock it off" and stop scaring everyone in order to get more free money?
US Treasury Secretary, Timothy Geither, said that he will be performing "stress tests" on our major banks. The source said that after the stress test if a bank needs more money they will get it.
This is not complicated. Instead of beating up on the US Treasury Secretary, its time to cool it and let him do his job properly and actually find out the true amount of banks' losses. So far, bankers have been stonewalling the Treasury. Its time for these bankers to act like grown ups, to admit their mistakes and come clean with the Treasury.
A bit of truthfulness will go a long way in establishing confidence in our banking system. As it stands now, the American people do not trust our bankers because they have been less than transparent with their fiduciary responsibilities.
What are your feelings on this matter?
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