No i znów ten Kenobi
/ 83.5.235.* / 2009-07-21 12:31
Pompowanie rynku kolejnymi bajkami o spadku zysków banków "mniejszym od prognoz".
We once again witnessed another laughable round of U.S banks “beating expectations”, as the combination of fraudulent accounting from the U.S. financial crime syndicate, and low-ball estimates for “earnings” by the media propagandists produced that familiar refrain.
In the case of Citigroup (C) and Bank of America (BAC), the two most-obviously insolvent fraud-factories, the “experts” were “surprised” by bottom-line profits – which were directly attributable to multi-billion dollar proceeds from asset-sales. How exactly does an “expert” get “surprised” by that? Presumably, if the “experts” don't follow the news, or can't operate a calculator then they aren't really “experts”, after all.
The more important story from this earnings season, however, was the consistent reporting of disappointing top-line revenues and soaring losses on all categories of loans – while “guidance” for the future was for those losses to keep climbing. The result is that simply using the tired refrain of “beat expectations” is no longer causing investors to immediately bid-up U.S. banks stocks to even more-absurd valuations.