The results of the E.U. stress tests are in. It's almost as if they modulated the tests to get a low, but credible enough, number of failures. 7 failures out of 91. Goldman and friends should take a page from the Euro regulators and try to lose money on 7 trading days this quarter. Bear in mind, though, that the stress tests did not take into account the prospect of sovereign defaults, even though European banks have government (e.g., Greek) bonds on their books ( http://www.bloomberg.c... ).

Here are the results for NBG ( http://www.screencast.... ).

Recall that I bought puts on this a couple of weeks ago ( http://shortscreen.com... ).

Enter a stock symbol to view that company's Altman Z-Score if it is a manufacturing company, or its Altman Z"-Score, if it is a non-financial, non-manufacturing company, and to view message board posts for that stock (Scores are available for premium members).

Below is a list of today's twenty-five most distressed stocks (according to their Altman Z-Score or Z''-Score, respectively) with a share price of $5 or higher. For details on how this ranking list is compiled, please click here.