Tuesday, April 14, 2009

TARP Overseer Stonewalled on Stress Test Details

This is getting way out of hand, and someone needs to go postal on everyone involved in this process:
There's a major problem and a minor problem. The minor problem is documentation. I've spent four weeks now looking for someone who can give me the details of the stress test so that we can do an independent evaluation of whether the stress test is any good.

We get: "someone will call [you] right back." Only the call doesn't come.
Hopefully, this will improve with Kashkari's replacement, but my guess is that this comes from Geithner, not Kashkari.

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