Posted on 09/28/2014 7:00:07 PM PDT by SeekAndFind
Sliding trillions of profitable derivatives from Merrill to B of A is proof that B of A got in trouble because of derivatives?
I'm not sure about your logic here.
Worthless? LOL!
Their net income last year was $10 billion.
Their market cap is about $180 billion.
Their net tangible assets as of December 2013 were $157 billion.
Generally speaking, junk stock is stock that has no value.
$180 billion is a bit more than "no value".
Well, unless their auditors are perpetually drunk, their balance sheet is a wreck as evidenced by the value of the company. Cant help you any more than that.
It's becoming obvious that you can't help anyone.
On your question of What did they steal?.........I could write a book and many have been written on the subject;
You were talking about JPM, I dont need a book.
OK.
A paragraph explaining what they stole would be fine.
What are they doing wrong? Be specific.
They are using depositors and the taxpayers to cover their RISK so they can book profits in the billions and LOSSES be damned!
You keep making up terms that don't make any sense, accounting or finance wise. "Cover their risk" is a nonsense term.
so they can book profits in the billions and LOSSES be damned!
Billions in profits kinda means there are no net losses. Sorry.
LOL, your talking about alleged profits, I am talking about REAL losses, in the hundreds of Trillions, with T!
JPM has real losses, in the trillions? You're confused, with a C!
your argument on profits is meaningless in this discussion because we are talking about LOSSES in the hundreds of TRILLIONS.................. NOT ISOLATED PROFITS.
If banks are losing hundreds of trillions, who is making hundreds of trillions?
B of A is now trying to slide an amount of their derivatives LOSSES, equal to Federal Coverage, in Merrill Lynchs back door so the government will cover their ass!
Moving an imaginary (in your head only) loss from Merrill to Bank of America would reduce Bank of America's profits. They made $10 billion last year, where is the loss?
Sorry again that you apparently scanned my post and did not read Jonathan Turleys article. You need to reread both.
If I reread his 3 year old article, will you be less confused?
Because I understood it just fine and it didn't say what you're claiming.
I will not comment on whose wrong and whos right here.
That might be a good idea on your part. Your batting average hasn't been too hot here.
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