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Legal Commentary
: TalkLeftWarren: More Stress Tests Needed
By Ethan Brown
A more significant story is getting lost in the shuffle, however: Elizabeth Warren says that more stress tests are needed because unemployment could well exceed the worst case scenario used in the recent stress tests.
"We have not actually broken through the worst-case scenario, but let's face it, the numbers are bad and they're heading in the wrong direction," Warren says.
[More...]
It's worth pointing out, too, that the consumer is starting to take some really nasty hits right now, from skyrocketing rates on mortgages to rising gas prices. Things are going to get much, much worse before they get better. I hope that Team Obama is prepared.
Full post as published by TalkLeft on June 10, 2009 (boomark / email).
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