The news that the results of the stress tests will not be disclosed until May 4 has sparked some cynicism. Some think, the tests really are intended to buy some time for regulators and banks. The delay may also suggest that the results will not be pretty. This much seems certain: The economy is complicating matters.

The Financial Times notes that two months ago authorities "defined the adverse scenario as one in which unemployment rose gradually to peak at 10.4 percent in late 2010. But, since the announcement was made, unemployment has risen much more quickly than was expected, even under the adverse scenario." That may be leading regulators to tweak their interpretations of the test results a bit. It would be odd to release results with the worst condition already in play. 

For more:
- here's the FT article

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