TARP Overseer: Run the Stress Tests Again, as Economic Conditions Have “Blown Past” Even the Worst-Case Scenario Used in the First Round

As summarized by CNBC:

The Congressionally-appointed panel overseeing the Troubled Asset Relief Program (TARP) recommends running again the stress tests on US banks, as economic conditions have worsened, its chair, Harvard University professor Elizabeth Warren, told CNBC Tuesday.

“We actually make recommendations to do it all over again right now,” Warren told “Squawk Box.”

“We’ve already blown past the worst-case scenario on unemployment,” she added.

Thanks to Warren for saying the obvious out loud (see this and this).

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