Banks keep recommending themselves to investors …
Every day a new recommendation, a new round of upgrades …
Today we had Goldman calling Bank of America a “conviction buy” … hmmm
JPMorgan and Citi hiked Goldman price targets and earnings estimates … hmmm
The interesting thing about this is … as the markets so far are holding up … […]

They really did it … OMG
Mark-to market is not anymore mark-to-market …
So … now everything is possible … enjoy the time until reality comes back …
- FASB’s new guidance allows banks and their auditors to use “significant judgment” when valuing the illiquid assets such as mortgage securities. For example, if companies have assets with strong […]

Sometimes it is really unbelievable, what is happening in today’s world.
And sometimes it beats everything.
First … I thought, my English was not good enough … then … I thought, my math was not advanced enough …
But … as now some intelligent people found out EXACTLY the same, we have to put a name to […]