Relevant:
- B. of A. needs more than $80 billion: FBR
- Bank of America Should Skip Countrywide, Analyst Says
- Bank Of America Scrambles To Shore Up Capital: In Negotiations To Sell $17 Billion China Construction Bank Stake
- The $1,387,796,500,000 Off-Balance Sheet Securitized Real Estate Loan Question
- Bank of America $70 Billion Short of Capital After Stress Test
2009-02-27 — bloomberg.com
Bank of America Corp.’s loans are valued at $44.6 billion less than what its balance sheet says, according to the bank’s annual report released today.
...
“That’s the heart of why these companies are trading where they are,†Friedman Billings Ramsey & Co. analyst Scott Valentin said in an interview. “Technically, if you mark-to- market the entire balance sheet, most of these banks are insolvent.â€
This is why the big banks are just a play on government bailouts. And I'm sure this report is generous.
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