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Bank Profits, Real or Not

July 30, 2009

Are you wondering about the recent news

on bank profits? Well, as always the government

has offered help without changing reality.

The FASB has relaxed mark to market accounting

rules by allowing banks avoid reductions to

earnings. Terms like “noncredit” and “other than

temporary” have allowed banks like Wells Fargo

have boosted earnings by over $600 million

for the quarter.

The reality of bad assets are still there.

Accounting terms aside.

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