Warm_Paw

What About Citigroup and BofA's Billions in Deferred Tax Assets?

Having two sets of books IS DODGY!
It's an example of how complacent the regulating authorities are.
The book for the taxman is closer to true value than the bright shiny and deluded book handed to the investor.
It's called fraud in the criminal courts but hey, Wall Street writes their own rules. They're BIGGER than the Govt.
Citi's cooked - not just it's books. I'm sure what is being reported by Citi has been adjusted with the suspension of FASB rules so the situation is most likely worse than the rosy picture they're painting.
And with all the CFO's and CEO's declaring they're comfortable with their present situation, what else are they going to say?
"Oh My God!!!! We're going to Crash and Burn!"
They're trying to sucker the unsuspecting public into purchasing their worthless shares?
Recall these execs owning massive amounts of shares in disturbing compensation packages? The warm fuzzy feeling comes from knowing their compensation for driving three large US banks into the ground has less of an intrinsic value than Bathroom tissue.