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Stress tests distress press

The real press, anyhow. Not CNBC. Because the tests are bogus! Who knew?!

Well, maybe "bogus" isn't fair.

How about "based on absurdly optimistic assumptions"? Would that work? The Other Shrill One agrees. Read the whole post, but this is fun:

What is amazing is the degree to which Bernanke has been unable to process what has happened over the last year and a half. It isn't simply that he is trying to restore status quo ante; he seems to see the only possible operative paradigm as the status quo ante. Worse, he has a romanticized view of it.


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