" May 22 (Bloomberg) -- The U.K. refused to release the results of stress tests conducted on British banks, two weeks after the Federal Reserve said similar reviews showed 10 U.S. lenders needed to raise a total of $74.6 billion.So I think we can assume that the stress testing did not result in good news... Read the rest of the Bloomberg article and debate whether panicking is the correct response...
Publishing the information may increase instability and force the government to take further action to shore up the U.K. financial system, the Treasury said in response to a Freedom of Information Act request by Bloomberg News that sought the test results and criteria used to evaluate banks. U.S regulators said publishing their findings would ease concerns about lenders. "
Friday, 22 May 2009
Why is the Treasury being so secretive?
I read that: