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Citigroup’s Earnings: More Fuzzy Math »

By Larry Doyle on Apr 19, 2009 in Banking Institutions, Economy, FASB, Sense on Cents (Larry Doyle blog) | 10 Comments

In reviewing bank earnings this week, I truly get the sense with a number of institutions that they determine just how much they want or need to outperform analyst expectations and then they figure out how to “manage” the books in order to get there.
This “managed earnings” process can be played for an extended period, [...]

Games of Chance: TALF, PPIP, TARP, FDIC, FASB »

By Larry Doyle on Apr 8, 2009 in American Consumers, Bank Bailouts, Banking Institutions, Economy, FASB, Mortgage Crisis, Sense on Cents (Larry Doyle blog), Toxic Assets, Wall Street | 12 Comments

In thinking about the economy, markets, and our banking system, my memory brings me back to my early days in New York. While working my way along 8th Avenue back to my apartment in Hell’s Kitchen, I would happen upon numerous versions of the classic NYC “hustle.” The shell game (also 3 card monte) was [...]

Zombie & Co. »

By Larry Doyle on Apr 7, 2009 in Bank Bailouts, Bank Failure, FASB, Sense on Cents (Larry Doyle blog) | 26 Comments

I am no fan of George Soros. I often believe he does not draw a hard line between his political interests and his business interests. His active support with MoveOn.org has made a mockery of any attempt to achieve campaign finance reform.
That said, for those involved in global finance, whether you like George Soros or [...]