Hey, The Fed just released the results of this year's stress test, so let's all gawk at which major financial institutions are being designated as hot, messy bitches and which are just hot bitches.
We have our eye on one mess in particular. What you got CNBC?
Deutsche Bank, passed this year’s stress test after failing last year. The U.S. division of Deutsche Bank made progress in fixing its issues related to data management and forecasting revenues and losses, according to a senior Fed official.
How are we supposed to trust a test that sees Deutsche Bank as a viable entity in a steep downturn? Things are pretty great right now and Deutsche can barely keep from killing itself.
Maybe Trump is right, Jay Powell, you need to get your shit together, B!
Is there something that could give us a sliver of hope that these stress tests aren't entirely broken?
Credit Suisse was the only Wall Street firm that didn’t sail through the Federal Reserve’s annual stress test, Credit Suisse was the only Wall Street firm that didn’t sail through the Federal Reserve’s annual stress test.
Okay, that helps...