So, results of the "stress test" for banks—to see how viable they would remain under favorable and not-so-favorable economic forecasts—were supposed to be in today, and most of what was revealed is we are going to have to wait until later to hear anything of substance about the stress test.
In the better scenario, and economic turnaround is coming soon, and unemployment and the credit contraction won't get worse than it currently is. In the worse condition, present economic factors particularly real estate, decline moderately through this year and then level off in 2010. There is some acknowledgment that things could go still worse than that.
If the banks were able to pull some accounting rabbit out of the hat, I'm sure we would have heard the results today.