if you are buying the bullshit from the Obama administration regarding the so called "stress tests"

The banks are insolvent now!  Fannie is reporting prime delinquencies now of 3.15%, this is the "worst" case scenario of the stress tests. 

Note that the PRESENT serious delinquency rate on Fannie's credit book for single family homes is at 3.15%, up from 2.42% last quarter.

What's worse is that a lot of the paper Fannie holds was written before the bubble.  If you look at only the "bubble-era" paper (e.g. ALT-A) or even prime paper written in 05, 06 and 07 the numbers are going to be far worse.

http://tinyurl.com/obpt7w

We have the largest lender in the United States reporting current "prime" serious delinquencies, almost all of which will end up as foreclosures, equal to the most serious stress tested level right now and twice the so-called "baseline" scenario.