See What People Are Saying About... The Danger Of Making Stress Test Results Public
It looks like those clandestine "stress tests" aren't going to be so clandestine after all.
Although some investors were concerned that the results would not be made public -- or at least made public in a meaningful way -- those fears appear to be unfounded.
The New York Times reports that the Obama administration has decided to reveal some sensitive details of the "stress tests" after concluding that keeping many of the findings secret could be much worse for the market -- sending investors fleeing from financial institutions rumored to be weakest.
Advocates of making the results public say that a lack of transparency is what triggered the current financial crisis and although it could mean consolidation, they say, 'let the pieces fall where they may.' Opponents of the move argue that investors would dump shares of weak banks so fast it would make your head spin.
The stress tests, announced in February, were designed to see if banks are adequately capitalized. Banks that are found to need more money would then have six months to raise it, or take funds directly from the government in a new round of capital injections.
And that leads to our Fast Money Reader Poll. Do you think results from the stress test should be made public or kept private?
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CNBC.com with wires