With Flying Colors…

The spectacular results of the Federal Reserve’s stress tests on the eight largest banks. Every single one of the top 31 banks passed the tests despite holding more consumer credit card loans and corporate debt, with elevated delinquency rates and retail giants reporting that consumers are tapped out. The Fed also performed an exploratory analysis of funding stresses and a trading meltdown, but the banks appeared to avoid disaster. However, JP Morgan came out the next day and disputed the results, stating that their losses should have been higher than what the Fed disclosed.