Stressed out banks and the economy
A while ago, the federal government ordered the nation’s banks to under go stress tests to see how they would fare in a severe financial crisis. The results are in. So how stressed are our banks? Well the results of those tests have been delayed several times. Now they are said to be coming out on Thursday. Some financial watchers are wondering if getting the answer to that question will help relieve the stress on the economy? Treasury Secretary Timothy Geithner says so, but Peter Morici, economist and professor at the School of Business at the University of Maryland, joins The Takeaway with his thoughts on how these tests will affect the markets.
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