Of much greater concern is yesterday's revelation that MetLife failed the Federal Reserve's latest round of stress tests. While Citigroup ( NYS: C ) and SunTrust ( NYS: STI ) both failed because of inadequate capital ratios, MetLife's failure came from missing on total risk-based capital. CEO Steve Kandarian said he couldn't figure out how the company failed the Fed's test, noting that the tests seemed to be inappropriate for insurance companies, marking MetLife down for its corporate bond portfolio and its separate-account treatment of variable annuities. At least in Kandarian's eyes, Citi and SunTrust investors should be more worried about their capital shortfalls than MetLife shareholders.