Faber Report: Stressing Banks

" I thank you Becky -- here Warren Buffett of course talk about Pearl Harbor and resolutions to a war. And having says Becky reported some good decisions by the government you know one of those decisions of course that."

" So let me answer to as to whether was a good one or not is the stress tests."

" Which -- seems to be some. Shifting at least in terms the very least in terms of what we're actually going to get the results from the stress test now. If you were -- with a week ago that all the CEOs went into their respective fans with their CFOs and hand. And found out -- what there are preliminary results were on the so called stress test and it was Monday that they were posting your back or I'm sorry that they were supposed to. Robot if they wanted to that was the deadline you have until Monday."

" Today. Was the day when you get your final results. -- like an exam and in other words you had a chance to rebut."

" And now we're going to tell you whether or not we took into account anything you told us. In terms of what you disagreeing with the world our methodology into what went about determining how much capital you need. So here we are. The banks that test of course hold two thirds the assets in the banking system nineteen -- more than half the loans in the United States. "

" Banking system out we will see but the question here is in some ways given -- strength in the capital markets we've seen over the last few weeks. Is that generate enough confidence and at the end of the day the stress test. "

" May not do much to bolster it in fact may actually have the opposite effect. We'll find out the latest news and is been dribbling out the last couple of days and Steve Liesman was talking about a Bloomberg report on it. -- late in the dressed as you know we may not actually get these results on Monday may fourth as had been officially or at least. Originally planned it may be later in the week we'll say."

" One reason why we haven't gotten any leaks from one on hearing these CEO's these companies were actually threatened with criminal prosecution. If they hate."

" the results of the stress test or at least what they heard last Friday again. Final results still expected -- and understanding to be today but the government is trying to approach the."

" Perhaps changing."

" The way it's going to go about release them unclear at this point but that's the point when we talk about whether or not is going to be used excess or something that was and in some ways."

" Unnecessary I mean."

" Part of me wonders whether you could've seen A BankAmerica go out there and issue a boatload of equity given the strength in the equity markets of late and a willingness of investors."

" It's to step up. They can't do that now of course they gotta wait for the results."

" Of this stress test. And then if they're forced to would need to hit the equity markets will that help them. Or. I'm. Mark or Scott excuse that you -- David thank you."