Monday, April 06, 2009

壓力測試 已變笑話

究竟啲花旗國銀行係咪雨過天晴?肯定唔係。不過喺一個冇咗mark to market嘅世界裏面,銀行條數真實有幾差,將會冇人知。如果冇人知,大家就可以扮冇事,扮雨過天晴繼續炒上。









最後題外話。Tax haven又唔係tax heaven,點解會被譯成「避稅天堂」?


Seems like someone agrees with me...

Geithner's Stress Test "A Complete Sham," Former Federal Bank Regulator Says

Posted Apr 06, 2009 10:00am EDT by Aaron Task in Investing, Recession, Banking
Related: UBS, C, BAC, XLF, SKF, FAS

The bank stress tests currently underway are “a complete sham,” says William Black, a former senior bank regulator and S&L prosecutor, and currently an Associate Professor of Economics and Law at the University of Missouri - Kansas City. “It’s a Potemkin model. Built to fool people.” Like many others, Black believes the “worst case scenario” used in the stress test don’t go far enough.

He detailed these and related concerns in a recent interview with Naked Capitalism. But Black, who was counsel to the Federal Home Loan Bank Board during the S&L Crisis, says the program's failings go way beyond such technical issues. “There is no real purpose [of the stress test] other than to fool us. To make us chumps,” Black says. Noting policymakers have long stated the problem is a lack of confidence, Black says Treasury Secretary Tim Geithner is now essentially saying: “’If we lie and they believe us, all will be well.’ It’s Orwellian."...

(More here)


  1. So should a regular citizen still believe in "Future Value of Money", given most people would have been better off with their money originally in the cookie can than being put in any banks and seeing them dive with MPF, stocks, mutual funds, etc?! What is your thought?

    I really don't know any put or call or any of those "I Kill you later" instruments but just simply contributing money monthly from my payroll to some so-called "finanacial adviser" who put my monthly contribution into Royals Skandia and I keep seeing negative return!

    Until my confidence as a regular citizen returns to normal by seeing a +ve, REASONABLE return (i'll be happy with even a 5% return annually for the next 10 years) I think bankers and so-called finance people are all liars if they claim to be able to achieve xxx% return for me!

  2. The whole point is the government DOES NOT WANT you to have 5% or whatever rate of return you think it is reasonable.

    The reason why they don't want you to make money on investments? Because if you do not make $$ with the money you have on hand, what would you do? Spend it!

    They want you to spend your money!!

    But of course, they then are scared that you will have no money left when you are old.

    So they make you invest in MPF.

    It is sad.

    Thats why I am part of the Lion Rock Institute. We want to abolish the MPF.