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KBW reverses yesterday's prediction of a Bank of America (BAC -1.1%) $0.10/share loss in 2010...

KBW reverses yesterday's prediction of a Bank of America (BAC -1.1%) $0.10/share loss in 2010 and now predicts an $0.80 profit, saying the bank will adjust capital rather than take a $12B pretax charge, to follow new rules regarding credit-card losses.
Comments (2)
  • inthemoney
    , contributor
    Comments (981) | Send Message
     
    Well, isn't that wonderful how a loss can turn into profit simply by changing the accounting. Does financial reporting means anything anymore?
    21 Jul 2009, 03:18 PM Reply Like
  • cgodwin
    , contributor
    Comments (7) | Send Message
     
    After adjusting a few numbers in my book, I am now worth 6.25 million... However, after futher adjustments, that is a negative 1.15 million for tax purposes...

     

    On Jul 21 03:18 PM inthemoney wrote:

     

    > Well, isn't that wonderful how a loss can turn into profit simply
    > by changing the accounting. Does financial reporting means anything
    > anymore?
    21 Jul 2009, 03:52 PM Reply Like
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