drmalaka

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  • Financials: How - And When - We Reached the Bottom
    This article is well thought out but just plain wrong.

    Where are bank earnings? How much money are the Investment Banks going to make on M&A, securitization and the like in the next few years? It's hard to come near past earnings when you used to have ten revenue streams and you just lost your best three. Add that to dilution and the EPS will not approach past numbers for years and years.

    Who is Tom to decide he is comfortable with write downs? Please. Three months ago when the last rally started (oh, during earnings season, or is that lying season) we were told that we were near the end of write downs. Believing anything the banks say or do is sheer insanity. These are comfirmed liars and crooks, and you take their word.

    Sorry, but Whitney and Ackerman are much more reliable sources than any joker who pushes these banks. I think I will stick with believing those who have been right in this crisis, not the morons who keep telling me there is a bottom and no more write downs.

    Estimates for losses are between $1 and $2 trillion now, are we even near that. Of course not. And that does not include normal loans, credit cards, commercial loans.

    We will have write downs for years to come. The banks don't even know what is on their books. Their Teir III assets keep growing. Look for most of those assets to be written down eventually, quarter by quarter.

    Bottom. Yeah right, bottom of the barrel maybe.
    Jul 22 22:20 pm |Rating: 0 0 |Link to Comment |View article

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