Now we loaned them money at zip and they loaned it out to announce these grand profits like WFC, and now we want them to clean up what brought them down in the first place AFTER we change the rules for them on mark to market and NOW they say NO? Here is what Congress did. They let them have the money for default swaps like AIG money going to GS and now they say no thanks, we got our pps up and got out our new issues without showing how bad off we still are. Taxpayers got screwed and the bad still has to come out.
yep, but WHEN will they have to face reality?? It could be months, many months. Investors appear to not be worried at all, how else can they sell billions in stock? FAZ decay is going to wipe out the future gains I'm afraid.. but still holding, damn hard to keep doing it, so must be close to the top (bottom).
"Many banks have refused to sell their loans, in part because doing so would force them to mark down the value of those loans and book big losses. Even though the government was prepared to prop up prices by offering cheap financing to investors, the prices that banks were demanding have remained far higher than the prices that investors were willing to pay."
If you read the article you may actually learn something.