I’ll leave the reporting to others, but the uncertainty this will create in the coming few months is astounding. You have to wonder how many of the banks will receive the same treatment after the stress tests are done….This is certainly a step in the right direction. A little short-term pain might just be necessary in order to avoid a Japan type result. Let’s hope Obama has the same kind of resolve when he confronts the banks….
Update (11:25PM EST) – Looks like there are conflicting reports out. According to high level officials the original Bloomberg report is wrong.