Bank of America is being accused of cooking the books to hide potential losses of at least $10 billion. Yawn ...
If you've followed this blog, and read about Bank of America's faux paybacks ... or the wonderful world of book cooking Structured Investment Vehicles here and here ... or corporate America's evolving legal blame game ... Bank of America hiding $10 billion in losses shouldn't be a surprise to anyone. But I'm sure it is.
The only question now is how they explain and then bury the problem with some more creative book keeping.
And you wonder why market-to-market is so important for the banks ...
- Mark
If you've followed this blog, and read about Bank of America's faux paybacks ... or the wonderful world of book cooking Structured Investment Vehicles here and here ... or corporate America's evolving legal blame game ... Bank of America hiding $10 billion in losses shouldn't be a surprise to anyone. But I'm sure it is.
The only question now is how they explain and then bury the problem with some more creative book keeping.
And you wonder why market-to-market is so important for the banks ...
- Mark
No comments:
Post a Comment