Relevant:
- FDIC FACES UP TO $10B WHACK ON INDYMAC LOANS
- $440 Billion Drop In Shadow And Conventional Banking System Liabilities In Q4 Gives Bernanke Carte Blanche For QE3
- The Second-Mortgage Shell Game
- Greece says bailout disbursement deal close, Juncker says it's on shaky ground
- 'Stop the WeWork deal' -- Cramer says embattled IPO could wreck rally
2008-01-11 — wallstreetexaminer.com
In effect BAC paid $4 billion to assume $194 billion in liabilities, and $209 billion in fictitious capital. I do not expect the rubber to ever meet the road on this deal. I would guess CFC true value as this plays out at negative $50 billion.
Half of this post was written before the takeover was announced as a done deal -- very prescient and impressive work by Russ Winter.
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.
