An irreverent look at Wall Street
Very strange. Since most analysts had indicated the 1-times in the am. Yet the stock opened up, which i agree it should not have. But then the selloff into the close was clearly engineered.
Thats the scam going on in the banks that had the interest only option arm mortgages things. They book interest that WOULD have been paid but is only really accumulating on the p&l sheet. So alot of that booked interest is likely to be reversed as mortgages default and the real money is not collected. But on wall street there is little difference between fiction and reality.
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