BAC - $44B in Losses Not Recognized

Discussion in 'Stocks' started by CET, Feb 28, 2009.

  1. CET


    After the close today news is out that BAC has not marked down loans to the tune of $44B. Generally, they are claiming that since they intend to hold these loans to maturity they aren't recognizing the losses. This is exactly what the insurers argued in seeking relief from FASB I believe. No relief was given to the insurers, so I don't know how BAC thinks they can get away with this. I expect BAC to get punished greatly on Monday.
  2. I saw this hit 6:00 EST (on tradethenews) ... and the stock did not move... Already priced in I think.

    The other banks (WFC, JPM etc) had similiar clippings today.