More adversity arived quite soon...

US bank stress tests assumed the unemployment rate to reach
8.8 % in Q2 under the "more adverse" scenario as far as I understood
it. We have reached 9.4 % right now and I guess we can
be confident to be well ahead of the assumed more adverse number
of 9.7 in Q4. I am still wondering under which assumptions investors
have been buying the USD 50bln+ equity offerings from those banks. 
Maybe they thought further loosened accounting standards will allow
them to mark them up under any circumstances.