Am I missing something here, or are these paragraphs at odds with each other:
For the last eight weeks, nearly 200 federal examiners have labored inside some of the nation’s biggest banks to determine how those institutions would hold up if the recession deepened.
What they are discovering may come as a relief to both the financial industry and the public: the banking industry, broadly speaking, seems to be in better shape than many people think, officials involved in the examinations say.
That is the good news. The bad news is that many of the largest American lenders, despite all those bailouts, probably need to be bailed out again, either by private investors or, more likely, the federal government. After receiving many millions, and in some cases, many billions of taxpayer dollars, banks still need more capital, these officials say.
Exactly how bad did they think things were that they in better shape than they thought they would be, but STILL need hundreds of billions of dollars? And why aren’t the results being made public so people outside of government can discuss them?
*** Update ***
The more I read about this, the more the stress tests sound like a t-ball game rather than an inspection of the bank’s viability. Everyone gets credit for playing the game, we’re all winners, but we never kept score.