... Their stress test did a wonderful job of uncovering weak banks and allaying the fears of investors -- well, perhaps they only accomplished the latter by feigning at the former but, hey, when you're a Keynesian and you believe that debt is only money you owe yourself it's all good.
Breaking news via Zero HedgeSome of those Successor Currency investments sure are looking better...
EU LAWMAKERS APPROVE AMENDMENT TO END USE OF CREDIT RATINGS
It is always amazing to me that so many people view the government as a reasonable fix for perceived failures in private accountability systems. Government officials are the worst about avoiding accountability.