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2012-03-04 — rollingstone.com
``Trainer in an earlier column urged investors to dump Bank of America for a number of reasons, but mostly because he had reservations about some of the numbers in the bank's most recent SEC filing. According to him, the bank aggressively exploited a new accounting rule called SFAS no. 159, which allows companies to enables banks to "artiÂfiÂcially boost earnÂings when the value of their own debt declines." In other words, BAC was able to artificially re-state earnings when its own credit quality went into the tank.''
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