As many as half of the large banks including J.P. Morgan Chase Bank (JPM, quote), that just reported a earnings beat, failed the Government Accountability Office’s or GAO’s Living Will Test. That 4 out of the 8 largest banks here in the U.S.
Welcome to today’s Morning Coffee Break – The Federal Reserve decisively stepped off the sidelines with a stronger than expected new round of unlimited quantitative easing (QE3) sending U.S. markets rallying. Market participants are clearly satisfied with the FMOC’s move as U.S. futures are indicating an extension of yesterday’s rally.
