Financial Reforms are Working!

I would say that this is rather significant. What they are really saying is now that there is a demand for truth in lending and full disclosure, they can no longer make the windfall profits they were making. Gee, they can no longer cheat the consumer!

 

The least-educated are always the last to find-out. (See: Teabaggers)

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The Daily Rundown

@ 21:25

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So, banks posting billion dollar losses is the aim of Financial Reform? Who knew?

 

Judy, where the hell is the link to what you're posting?

 

email this morning from CNNMoney.

 

They're all over the place in Giggle Search...

This one is good as any on the first page...

Bank of America Corporation today reported a net loss of $7.3 billion, or $0.77 per diluted share, in the third quarter of 2010, including a non-cash, non-tax deductible goodwill impairment charge of $10.4 billion.

SOURCE

 

No, I take it to show that now that they have to be honest and above-board with their customers, they can't make as much money. Before there were regulations they were doing whatever they wanted, no matter how much they screwed the consumer.

 

Bank of America Posts $7.3 Billion Loss on Cost of New Rules - Bloomberg

 

So, basically, they are not posting a loss...they are projecting future losses against their prior projections of fucking every person they could?

 

So, who made the new rules?