Stupid Banks/Governements

After reading this article, I realize that the Obama administration does not know what its doing when it comes to the economy.

Clearly, these bank stress tests are not telling us anything. If you read the article, you find out that banks are losing a lot more then what the tests predict even in harsher economic conditions then we are in now. This means that these "tests" are made just to stimulate wall street and give people a false sense of security. The government would also be wrong to simply hand money to these banks, it is time to nationalize them. When you have bonus scandals like what happened with AIG and idiots at Bank of America and Citibank who still can't figure out how much they have in "toxic assets" you know it is time to take them over. The problem is that Obama decided that he'd rather have people from the old regime, like Gethner and Summers, on his economic team then bringing in professors and/or young talent who may have some fresh ideas on how to get out of this crisis. But the guys that are there now have no idea on how to deal with this. They are opperating under the assumption that the system is fine and if we keep pumping money into it things will magically work. This works if you have buisness owners who actually care about the health of the people of the US, but they don't, they only care about themselves and their own wealth. The answer, as Europe has been saying, is regulation. The stimulus package, although it could have been done better, was a good idea, but every other plan so far has been somewhat idotic, what this system needs is tough, firm, regulation on how the buisness of buying and lending morgages is done, it will prevent us from falling in this type of crisis again, and it will create jobs for all these buisness majors (and there are too damn many of them) in the area of overseeing these practices. Unfortunatly, our government doesn't see clearly, they are stuck in the same old past and need some new ideas, this would have been Obama's chance to promote "change" but as of now, its not there...