http://www.bloomberg.com/apps/news?pid=20601087&sid=ah46_sK09p9o&refer=home
The Raven really shouldn't be shocked at this, but he is. Does the Treasury honestly believe their own bullshit? Saying that you won't release stress test results because they'll increase instability is perhaps the stupidest thing he's ever heard!! A statement like that is panic enducing at the very least, perhaps these idiots should be honest with themselves and the public. We don't want to release the results because we're afraid that it would show exactly what state the UK banks are in (the Raven thinks that the results would show that the banks are in an ok position *pure speculation*), but would also make it chrystal clear that the Goverment has lost a bucket load on their "investments" and would be a rod for the opposition to beat their raw backsides with.
The bond sell off yesterday should really increase the demand for the USD not decrease it, there's something wrong with the Raven's thinking. hmmm.
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