A to pokazuje jak zrobione były niby dobre wyniki banków w I kwartale:
U.S. banks reported a first-quarter profit of $7.6 billion, buoyed by revenue at a few larger companies, but overall the credit picture remained grim as the number of banks in trouble continued to rise and borrowers increasingly fell behind on their loans.
Or is it?
Let's think. During that quarter AIG passed through some $100 billion plus from the taxpayer to the largest of these very same banks.
So the banks "made" $7.6 billion, but they had an "unearned gain" of over $100 billion. Let's call it an even $100 billion as some of it didn't stay here in the United States.
Now The WSJ claims:
Still, the latest results were an improvement from the industry's net loss of $36.9 billion in last year's fourth quarter.
They were? I guess if you can count robbery as an "improvement", ok. But let's look at this from a different angle - back out that "unearned" and illicit gain from the passthrough and they would have lost $92.4 billion dollars, or well more than twice last year's fourth quarter.
Heh, if I can steal making my numbers is easy! All you have to do is leave the bank vault open and promise me that there are no guards, no cameras and no guns! I will then march in and steal whatever I want, and of course will turn in respectable quarterly results.
The problem with the banks lies here:
Despite those actions, banks were increasingly unable to build their reserves fast enough to keep up with noncurrent loans. The ratio of reserves to noncurrent loans fell to 66.5% in the first quarter from 74.8% in the fourth quarter. It was the lowest level in 17 years.
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