Act I

By The Daily Dish

Some results for the bank stress tests are due out today. Ryan Avent gives a preview:

The actual results are the opening act. The main event is what the government rolls out as its solution. I have this uncomfortable feeling that if the stress tests reveal anything like the true picture at a Citigroup and the policy response is a combination of an increase in equity stake, fingers crossed for private recapitalization, and the promise of PPIP, markets may be very upset indeed.

This article available online at:

http://www.theatlantic.com/daily-dish/archive/2009/04/act-i/202718/