Defaults weigh on bank earnings despite improvements
MC
What an exciting time it is...thank you for your guidance and Love.
It seems we are heading into the final stretch.
If I remember correctly Casper was in the financial services business. I wish to pass this article along showing the bank profitability for the past 5 quarters due to the FASB rule change last April-May retroactive to the first quarter 2009. 5 quarters of FRAUD!
"Wells Fargo & Co. posted a fifth straight quarterly profit. First-quarter net income fell 16 percent to $2.55 billion, or 45 cents a share, compared with $3.05 billion, or 56 cents a share, in the same period a year earlier."
Defaults weigh on bank earnings despite improvements
http://www.lasvegassun.com/news/2010/apr/23/defaults-weigh-bank-earnings-despite-improvements/
FYI The Sun buried the article after I posted the comment...
Richard Koo Says If Banks Marked Commercial Real Estate To Market,It Would "Trigger A Chain Of Bankruptcies"
http://www.zerohedge.com/article/richard-koo-says-if-banks-marked-commercial-real-estate-marketit-would-trigger-chain-bankrup
FASB Mark-to-Messy Accounting Change
http://www.forbes.com/2009/04/02/accounting-fasb-banking-busienss-wall-street-fasb.html
FASB Moves Toward Giving Banks More Flexibility on Fair-Value
http://www.bloomberg.com/apps/news?pid=20601087&sid=ar8GMXGDnlws
Fight the Derivatives Cancer with a Wall Street Sales Tax, Plus Bans on Hedge Funds, Credit Default Swaps, and Synthetic CDOs
http://tarpley.net/2010/04/25/fight-the-derivatives-cancer-with-a-wall-street-sales-tax-plus-bans-on-hedge-funds-credit-default-swaps-and-synthetic-cdos/
I send Love and gratitude to our Light Warriors, Casper, Wendy, We and all.
May the Violet Light of St. Germain and the Golden Light of Lady Master Nada shine upon us all.
Thank you,
Love Always
Namastè MC |