Run on the Banks: Stress Tests to Confirm 16 of 19 Majors Banks Insolvent (UPDATED3)

by | Apr 21, 2009 | Headline News | 1 comment

Hal Turner’s Turner Radio Network has obtained what they describe as leaked stress test results for 19 major US banks. If you doubt Turner’s credentials on the matter, be advised that their network also released a Department of Homeland Security (DHS) Memo outlining their concerns that returning US military vets posed a domestic security threat as “right wing extremists.” This memo was subsequently confirmed and released by DHS and was big news last week during the Tea Party Protests. If Mr. Turner’s network has in fact obtained leaked information regarding the stress tests, then the Sh*t is definitely about to hit the fan because 16 of the 19 banks have failed and are technically insolvent.

Of the top nineteen (19) banks in the nation, sixteen (16) are already technically insolvent.

Of the 16 banks that are already technically insolvent, not even one can withstand any disruption of cash flow at all or any further deterioration in non-paying loans.

If any two of the 16 insolvent banks go under, they will totally wipe out all remaining FDIC insurance funding.

Put bluntly, the entire US Banking System is in complete and total collapse.

Read the complete assessment at Hal Turner’s blog.

UPDATE 1: SEC contacts Turner Network About Leak

UPDATE 2: Bloomberg: Treasury Says ‘No Basis’ to Report on Bank Testing

UPDATE 3: AP Gets Leaked Info of ‘unfinished’ stress tests too

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    1 Comment

    1. Hal Turner

      One day after I published the most salient points about the allegedly unfinished and unavailable bank stress tests, the Associated Press is now reporting they too have obtained stress test documentation!

      AP Story Here:

      Gee whiz. It looks like bank stress test documents — which the U.S.Treasury said yesterday were unavailable and unfinished — ARE, in fact leaking to the media and I got some of them before everyone else in the world. Imagine that.

      I guess that’s why my blog has earned more than thirty million unique visitors in the last 3 years. Maybe that’s also why I’ve been on Dateline NBC, “Paul Zahn Now” on CNN as well as
      “At Large” with Geraldo Rivera on Fox News Channel. People know I speak  truth and they keep coming back for more.

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