Wells Fargo Chairman Calls Stress Test “Asinine”

Richard Kovacevich, the Chairman of Wells Fargo has unkind words for the stress test:

“We do stress tests all the time on all of our portfolios,” Kovacevich said. “We share those stress tests with our regulators. It is absolutely asinine that somebody would announce we’re going to do stress tests for banks and we’ll give you the answer in 12 weeks.”

Posted by on March 16th, 2009 at 12:12 pm


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