Wednesday, January 13, 2010

Dear WSJ: Missing a Step?

The Wall Street Journal came out with this article this morning on Bank of America's successes from its real estate investments.  Note that the article nowhere mentions the SEC's expanding investigation of BofA (The article also refers to Deutsche Bank's revenues without mentioning its exposure to Dubai's unfolding defaults,  but that would be asking for just too much, wouldn't it.).  You think that cooking books and pumping offerings might have some effect on posted earnings?  Apparently the Journal doesn't; BofA's revenues are just from great management.  So, do you think the Journal is an information source, or just a cheerleader?

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At January 15, 2010 at 3:36 PM, Blogger Nando said...

The Wall Street Journal has always been a cheerleader for lax oversight and sparse enforcement. They always have their masters' interest, at heart.

At January 15, 2010 at 5:48 PM, Blogger Knute Rife said...

Yep, it was a rhetorical question.

At February 17, 2010 at 4:19 PM, Blogger kanishk said...

its really good blog and relevant

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