The Federal Reserve significantly scaled back the size of the capital hole facing some of the nation's biggest banks shortly before concluding its stress tests, following two weeks of intense bargaining.

In addition, according to bank and government officials, the Fed used a different measurement of bank-capital levels than analysts and investors had been expecting, resulting in much smaller capital deficits.

The overall reaction to the stress tests, announced Thursday, has been generally positive. But the haggling between the government and the banks shows the sometimes-tense nature of the negotiations that occurred before the final results were made public.

Government officials defended their handling of the stress tests, saying they were responsive to industry feedback while maintaining the tests' rigor.

http://online.wsj.com/article/SB124182311010302297.html

PS LOL it's easy to pass a rigged test

The Federal Reserve significantly scaled back the size of the capital hole facing some of the nation's biggest banks shortly before concluding its stress tests, following two weeks of intense bargaining.

In addition, according to bank and government officials, the Fed used a different measurement of bank-capital levels than analysts and investors had been expecting, resulting in much smaller capital deficits.

The overall reaction to the stress tests, announced Thursday, has been generally positive. But the haggling between the government and the banks shows the sometimes-tense nature of the negotiations that occurred before the final results were made public.

Government officials defended their handling of the stress tests, saying they were responsive to industry feedback while maintaining the tests' rigor.

http://online.wsj.com/article/SB124182311010302297.html

BAGHDAD — The United States military said Monday that five American soldiers had been shot to death by a fellow soldier who opened fire on them at one of the biggest American bases in Baghdad, and that the suspected shooter was in custody.

The killings appeared to be the worst case of lethal non-combat casualties for the American forces in Iraq since the invasion more than six years ago.

The shooting took place at around 2 p.m. local time at Camp Liberty, a sprawling base next to Baghdad airport, the military said in a statement. The names of the dead soldiers were being withheld pending family notification, the statement said.

http://www.nytimes.com/2009/05/12/world/middleeast/12iraq.html?partner=rss&emc=rss

In the movie 'First Contact', after the 21st century Earth woman asks Capt. Picard how much it cost to build the Enterprise, he says "Money doesn't exist in the Twenty-Fourth Century."

Then he tells her that economics, as she understands it, is obsolete in his time. He says "The acquisition of wealth is no longer the driving force; we work to better humanity."

Um, the answer is no.

Just look at the corruption and abuse of Wall Street, the banking industry, the auto industry, and the military industry.

"but let’s let Jon Stewart get the last word. Like many of us on Monday he wondered how Sykes could provoke outrage while torture revelations provoke yawns and/or lame rationalizations."

It reminds me of the time they tried to outlaw supersoakers squirt guns because they were too dangerous but real guns are just fine.

PS go get em Wanda !!

would be interesting to compare it to what a human judge would do?

Apart from that I would pick logic and reason over human prejudices, ignorance, guilt, and moodiness any day.

PS I've known many lawyers and almost all agree that most of the time the judge's verdict comes down to how much they "like" the defendant.

PPS Don't even mention juries....the last thing I want is to be judged by 12 stupid people.

Not gonna happen.

Ironic that foreign policy was the area most people wanted to "change" yet it's one of the areas Obama is not changing.

As a gay man I wonder if Camilla can write one column without mentioning us?

I'm flattered by all the attention but if you really want us to go away, treat us equally and we will.

and their hate, intolerance, sexism, and homophobia.

they are far more intelligent than he !!

The Obama administration signaled yesterday that it may be rethinking its promise to release several dozen photos depicting abuse or alleged abuse of detainees held in U.S. custody abroad.

Justice Department officials told a federal judge late last month that the U.S. government did not intend to fight a court order to turn over a total of 44 photos, which were sought by the American Civil Liberties Union under a Freedom of Information Act lawsuit.

But White House press secretary Robert Gibbs told reporters yesterday that President Obama has "great concern" about the impact that releasing the photos would have on soldiers fighting in Afghanistan and Iraq. Asked whether the Justice Department's decision might be reversed, Gibbs declined to reaffirm the government's intentions.

"I don't want to get into that right now," he said, adding a moment later that "I'm not going to add much to that right now."

A follow-up e-mail to Gibbs seeking clarification was not returned. Two other members of the White House communications department declined to elaborate, pointing back to Gibbs's comments during the briefing.

The comments drew immediate criticism from a lawyer for the ACLU. "The suggestion that they may be reconsidering that decision . . . is deeply troubling to us," said Jameel Jaffer, director of the group's National Security Program.

http://www.washingtonpost.com/wp-dyn/content/article/2009/05/12/AR2009051203961.html

but that's the status quo democrats for you.

will Obama orchestrating them instead of Bush.

The more things change the more they stay the same.