t-bird

Wall Street Breakfast: Must-Know News

One earlier poster wrote:

You don't quite get it do you? The banks are fabricating their numbers! The abandonment of mark-to-market allows these guys to use any of five different ways to value assets. Basically they start at the bottom line and work their way backwards. You'd have to be a fool to believe anything they say.

Wonder what the numbers would reveal if all the toxic debt and CDO's were allowed to be factored in? Treat financials as a short term trade only!!! Take your profits and hit the exits!