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March 13, 2012

Financial stress test: Mostly good news, but one bank had a major fail

  • good news On the occasion of a major stress test of the financial market, 15 of the 19 banks tested showed that they would hold up during a severe recession, while still paying off dividends and buying back stock.
  • bad news One of the banks that failed — Citigroup — screwed up so badly that they failed to meet a set of minimum standards for the stress tests. The company plans to resubmit for another test. source
20:14 // 2 years ago