Wed, 19 Dec 2012, 2:10am PST
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This what they will admit to.
The accounting rules were jiggered for the banks because likely what they are reporting is 10% of the real number, something they knew they could not hide long term.
BofA should be nationalized and all its execs fed live chain saws.
Mon, 24 Dec 2012, 8:51am PST
Market cap vs. mortgages owned is so utterly meaningless I don't know how to proceed responding.
Every bank has assets worth substantially *more* than their market cap. Do you know why? Because market cap is based on things like "revenue" and "profit". I hope you guys don't ever have to make an investment decision.