“More Quickly Than It Began, The Banking Crisis Is Over” declares longtime financial journalist Douglas McIntyre in a column posted this morning on the TIME website. Well miracles of miracles! Noting yesterday’s news from Wells Fargo that the bank made more than twice analysts’ projections during the first quarter and the positive buzz about the progress of the Treasury Department “stress tests” being run to assess banks’ abilities to withstand further economic downturns, he wonders why the heck they’re bothering to run “stress tests” at all. Isn’t it obvious we’re out of the woods?
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=143928