European soap opera: Today's chapter.

BARCGHART has a news section. It "explains" why stocks go up and down. It is hilarious. It claims that today's rise of stocks in the European markets are due to the fact that Traders are buoyed by the results of the Spanish banks stress test. Really? Assuming that we can trust the results (and do we remember how the Greek reports were -ahem- fabrications?) what are these results? Why, the Spanish banks are broke and need a loan of 70+ billion Dollars. Spain itself needs over $260B, assuming that the government survives the strikes, riots and regional clamoring to secede.