Yves Smith: BofA lies in State and Federal Courts

[Wild Cobra]

The difference between Yoni and me is that Yoni is always wrong, and he knows it, and I'm always right, and I know it.

Well, even the mighty oak once started as a small nut. Still, I just don't see you achieving anything with your entire at ude you display.

[TeyshaBlue]

That makes you exactly like him, brainiac.

lol


totally lost on boutonski tho.

[boutons_deux]

Bailed-Out Banks Are Looking Shaky at Best, But Their CEOs Are Well-Insulated from Collapse

Since the catastrophic bank collapses of 2008 and the government rescue of the finance industry, Wall Street has staged a dramatic comeback. Since the bailout, profits are up, capital reserves are up, stock prices are up, government direct aid has been paid back, and executive compensation is exploding. But a closer look shows bank stability is just skin-deep, and dense accounting rules hide a powder keg of bad debt and mounting funding issues. While the recent paper-thin re-regulation of finance was a major political victory, the banks’ core business is headed downhill and even worse trouble seems to lie ahead.

...

But executive compensation is another story, and traders’ pay is also rebounding into the $200,000-to-$500,000 range, while tens of millions of Americans struggle to keep food on the table. Meanwhile Obama’s much-hailed “pay czar” in charge of monitoring finance executive compensation, Kenneth Feinberg, has reported that within three months of receiving their bailouts, the megabanks had paid out $1.6 billion in bonuses -- up to a quarter of their TARP rescue totals.

http://www.alternet.org/module/printversion/148812

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Just gotta love unregulated capitalism.

[RandomGuy]

Like how you eliminated the word "allegedly" in your thread le, Judge Winehole.

It's a fair condensation of Yves Smith's take.

I would agree.

The "allegedly" is one of those legal niceties that journalists have to be scrupulous about in order to avoid being sued.

OJ was "allegedly" guilty unil proven innocent.

I think Mz. Smith has some good points.

It certainly seems as if BoA pulled what auditors call "fresh ink" do ents out of their asses in order to lie in court. "Oh you mean we are missing do ents... gee look what we found under the filing cabinet!"

I have actually been presented with do ents that I am 99% sure were "fresh ink" contracts. That is the suck thing about being an auditor. What I think sometimes and what I can prove are two seperate things. If a company is willing to outright lie to my face, sometimes all I can do is grit my teeth and move on.

[RandomGuy]

I couldn't care less how you characterize me. Really.

Good for you, bizarro_boutons.

BOOM! goes the dynamite!

[RandomGuy]

A Republican, I hasten to add. Now, a Democrat AG? Say, someone like Ronnie Earle, yeah, dinner, knob-slobbering, and slavish devotion would be the expectation.

Oddly enough him being a Republican is something that makes me feel a bit better about rank and file GOP.