2008-11-11 — ml-implode.com
[Downey Savings and Loan] also published this bombshell [in their 10-Q] (see Note 11 on pages 23-24):
The circumstances described above, raise substantial doubt concerning the ability of the Holding Company and the Bank to continue as going concerns for a reasonable period of time.Why would a bank issue a “going concern†warning when management knows doing so could cause depositors to panic?
Most likely their auditors forced them.
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.