Stress Testing Obama’s Facts

Could the American public handle the facts about the Treasury’s stress tests for the nation’s top 19 banks?

Stress test “adverse” scenario for 2009 GDP growth:
-3.3%

Actual annualized 2009 GDP growth year-to-date:
-6.1%

Stress test “adverse” scenario average unemployment rate for 2009:
8.9%

Actual 2009 average unemployment rate year-to-date:
8.3%, with a rate of 8.9% in April

Stress test “adverse” scenario indicative loan loss rates:
3% to 4% for prime
9.5% to 13% for Alt A
21% to 25% for subprime

Actual Q1 2009 serious delinquency rates of Fannie Mae, the largest mortgage lender in the U.S.:
3.15% for conventional single family
9.6% for Alt A
18.0% for subprime

Notes

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