Cuttone and Co. Inc.

"STRESSED OVER THE STRESS TESTS"

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"Traders assume that the government will spin it positively and if the news is good, the market isn't likely to rally as much as we might expect. If the news is bad, look out! Investors will be upset, assuming that despite their best efforts, the Feds can't put any lipstick on the pig that is our banking system."

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"if banks can start valuing their own assets at whatever they think they are, which is basically a version of what is going to happen under this proposal, they have less incentive to move those assets off the books. And I'm deeply suspicious of any bank that is allowed to decide for themselves what those assets are worth, in terms of their own valuation."

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Market Watch : A Sampling of Advisory Opinion

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After demanding details of the administration's plans to detox the banks, investors got plenty to ponder. [I think] the best part of the plan is the way it leverages money that Congress has already released to fund the program. After listening to our legislators posturing over the AIG bonuses, the prospects for congressional approval of additional funds for bank aid seem uncertain at best. [Treasury] Secretary Timothy Geithner's plan makes an end run around Congress and neatly avoids the problem. The market shouted its approval...let's hope the huzzahs continue....

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