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Goldman Sachs: Earnings Bad News for Doomsayers

Kumar is right on the money with his point.

These companies are a black box with fudged balence sheets. Had BSC not been put to task they would have beat there numbers also. How does a $80 BOOK VALUE go to $2 - and that's only with the fed backing it up.

I wonder how CNBC will spin the next trainwreck