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Over the past month or so the financial sector has surged about 35% higher. Did the stress tests end the financial crisis?
In the future we may look back on this moment and say results of the stress tests ended the financial crisis, explains CNBC’s senior economics reporter Steve Liesman. If it breaks the cycle of fear this could well be a turning point.
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And on yesterday’s Fast Money Jeff Macke made a somewhat similar argument when he said, I’d buy the news. Finally, the government has removed uncertainty from the equation. Now banks can start consolidating and move on with their lives.
Of course we’re well aware that credit card debt and commercial real estate woes still loom on the horizon. But if the stress tests prepared the banks for whatever problems still lie ahead, then, maybe, we’ve reached a real turning point.
And that leads to our Fast Money reader poll. Do you think the stress test results ended the financial crisis?
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