Stress Tests Are Over. The Stress Isn't. (Excerpt)
New York Times - May 10, 2009
by Grethchen Morgenson

"Let's not call it a stress test," said Janet Tavakoli, founder of Tavakoli Structured Finance, a consulting firm in Chicago. "This was a test to try to measure capital adequacy, using broad-brush percentages. I think what they are hoping is that banks are going to be able to earn their way out of it."

End of Excerpt


Janet Tavakoli is the president of Tavakoli Structured Finance, a Chicago-based firm that provides consulting to financial institutions and institutional investors. Ms. Tavakoli has more than 20 years of experience in senior investment banking positions, trading, structuring and marketing structured financial products. She is a former adjunct professor of derivatives at the University of Chicago's Graduate School of Business. She is the author of: Credit Derivatives & Synthetic Structures (John Wiley & Sons, 1998, 2001), Structured Finance & Collateralized Debt Obligations (John Wiley & Sons, 2008), and
Dear Mr. Buffett: What An Investor Learns 1,269 Miles From Wall Street (John Wiley & Sons January 2009)

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