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Bloo Loo

Banks Can Be Trusted

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Breaking on Doomberg.

Heres a link.

Bank of America has admitted to engaging in six end of quarter transactions that removed as much as $10.7 billion from the company's balance sheet.

Read more: http://www.businessinsider.com/bank-of-america-balance-sheet-transactions-2010-7#ixzz0tT4or0Qe

Anyone else think the banking crisis is over?

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Hardly seems worth it.

Its unbeleivable.

from the CNBC web:

The error was first disclosed in the bank's first quarter 2010 report, which noted the bank incorrectly accounted for some mortgage-backed securities as sales, rather than repurchase or short-term lending deals.The first such error occurred on March 31, 2007, totaling $4.5 billion in securities. The largest misclassification was $10.7 billion in securities on September 30, 2008.

thats 2 out of 6...and thats 15.2bn dollars of enron sales.

Edited by Bloo Loo

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Breaking on Doomberg.

Heres a link.

Bank of America has admitted to engaging in six end of quarter transactions that removed as much as $10.7 billion from the company's balance sheet.

Read more: http://www.businessi...7#ixzz0tT4or0Qe

Anyone else think the banking crisis is over?

See this in 'comments' below? - another of their defrauding mechanisms!

Just about all banks hide their real debt, thanks to the market to market, hide the weenie AKA rule 157 introduced in April 2009.

The new rule 157 allows banks to hide their non-credit losses.

This means non-credit losses are NOT included in the bank's earnings.

Here's a simplified example:

Bank A holds a securitized pool of mortgage-backed assets (MBA) originally valued at $100.

After modeling the future cash flow of the pool, the bank projects it will ultimately collect $95. The credit loss is $5.

However, due to economic factors, the MBA pool is currently worth only $40, a $60 loss.

The difference between the two calculations ($60 - $5) is the noncredit loss - $55.

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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