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?