Economics and Investing:
Reader HPD pointed us to this commentary by Mish Shedlock: Preliminary Stress Test Results. What a sham! HPD also mentioned this: Futures Fall, BofA May Need $35 Billion in Capital. HP had these incisive comments: “Expect BofA (and Wells Fargo) stock to bounce after the initial decline. Geithner has taught the market that he will throw a lifeline to any large bank, no matter how insolvent. Thus is capital misallocated in a centrally planned economy.” He added in a later e-mail: “Outrageous! But did we really expect anything different? …Gee, I wonder why all the major servicers are sitting on …