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.
|New iPhone: Apple to make (iPhone 6S?) announcement on September 9|
|NYPD to Disney and Marvel: Get Minnie Mouse and Spider Man out of Times Square|
|Learn about investing...by watching Netflix|
|Can the global gloom sink the U.S. economy?|
|Comcast's super-fast cable Internet is coming|