After passing stress tests, Wall Street banks to spend like a drunken sailor – on their own stock buybacks

By Pam Martens and Russ Martens

Yesterday, the Federal Reserve announced the second leg of its 2017 stress tests for the nation’s most systemic financial institutions. Known as the Comprehensive Capital Analysis and Review (CCAR), the Fed said it “did not object to the capital plans of all 34 bank holding companies” although Capital One Financial will be required to “submit a new capital plan within six months that addresses identified weaknesses in its capital planning process.”…

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