The biggest problem with the Geithner plan
Is that the banks choose which assets to sell to the fund.
It allows selective price discovery on assets where the company taking the test selects the questions.
That doesn't prove anything except that banks taking self assessed exams for which the penalty is death tend to pass.
At least some assets should be put to auction either randomly selected or selected by the FDIC. The bank doesn't need to take the price bid - but a price should be recorded.