Friday, 22 May 2009

Why is the Treasury being so secretive?

I read that:
" 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.

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. "
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...

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