First I see the headline on Marketwatch that says Bank of America had a better than expected result for the 2nd quarter.
THEY LOST 8.8 BILLION FREAKING DOLLARS AND THE HEADLINE IS POSITIVE!!!!!!!!!!!!!!!!!!!!!!!!!!
I immediately went to Zero Hedge for the truth. Nothing but accounting entries to create $4.8 billion of income out of thin air. The CEO of this bank thinks credit conditions are improving as home prices plunge and retailers vacate more commercial real estate. That’s priceless!!!!
The Bank of America is insolvent. They are dead bank walking. You know it. I know it. Even that bonehead Bernanke knows it. Too bad the MSM pretends not to know it.
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2 comments:
I have a mortgage with them. I wonder what will happen if they go belly-up. On second thought, I know they support the communist party so the government will bail them out with our tax money. Hakunamatada.
SECU of MD has followed their lead on some things. Kinda scary. I hope it's not for long.
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