At 4:30 PM today, the Fed will announce stress test results.
Whats interesting is that they were supposed to come out on Thursday at 4:30 PM.
Why the change of schedule?
Well, basically, JPMorgan came out with its announcement of dividends and buybacks around 3:00 PM.
In that announcement they said they had passed the stress tests from the Fed, and that forced the Fed to move up their schedule.
via Business Insider.
This demonstrates the awesome power that JPMorgan has over the government. It’s incredible.
This is one of the “too big to fail” organizations that has only gotten bigger.
It’s time to look into pulling this beast into pieces.