So was the story of the summer's stress tests: they seemed less a true test than a giant charade. Critics jumped on the EBA for giving Drexia and others a clean bill of health for 2011 when anything but the most generous kind of accounting showed the opposite. No doubt investors were reminded of the European stress tests just a year prior, when a group of banks who passed stress tests, including Bank of Ireland and Allied Irish Banks, soon floundered.
It was a rollercoaster of a year for the U.S. stock market.
|Home Depot investigating 'massive' hack|
|Colorado's missing marijuana taxes|
|The U.S. dollar is super strong now|
|Naked celeb hack lesson: 'Delete' doesn't mean delete|
|Yahoo's Marissa Mayer about to get $10 billion|