Kirby Daley Says Optimism Over 'Stress' Test Is Delusional Part 1

Analyst Kirby Daley explains why economic optimism about the bank stress tests is a scam. He also explains why the stress test themselves are dubious in that they don't simulate likely unemployment levels in the quarters to come but unemployment levels today.

Picking up where Nassim Taleb's predictions left off a few weeks ago, Daley says the recent rise in the market was manufactured by news hype, distortions from the White House and big talk from the bank CEOs and other analysts standing to profit from a rise in stock prices.

The Bloomberg anchor insinuates that Daley needs to just be more optimistic but has no serious counter to Daley's argument.

Category:

News & Politics

Tags:

• stress test
• banks
• stocks
• Kirby Daley
• Bloomberg