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Are the Banks Healthy?

May 27, 2009

The recent stress tests which had little to do with anything have come and gone. After all, the banks are starting to look better aren’t they?

Thanks to the miracle of accounting, yes they are.

However, the ‘purchase accounting’ rules they are using are hiding the truth.

http://www.mcgladrey.com/Resource_Center/Audit/Articles/ApplicationPurchaseAccounting_040108.html

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