Timmy Phones It In

Everything you need to know about the stress tests is in one paragraph in Timmy's NY Times op-ed this morning.

Banks will also have the opportunity to request additional capital from the government through Treasury’s Capital Assistance Program. Treasury is providing this backstop so that markets can have confidence that we will maintain sufficient capital in the financial system. For institutions in which the federal government becomes a common shareholder, we will seek to maximize value for taxpayers and enable these companies to attract private capital, thereby reducing government ownership as quickly as possible.

Bailouts then, bailouts now, bailouts forever. The stress test changed nothing, the government learned nothing, the plan remains the same.

Until America goes broke.