I previously posted a piece on Mark-to-Market Accounting (Mark-to-Market .........experience) stating how it may be a short-term band aid, and a way to avoid paying back TARP funds. Today, Bank of America posted a $4.2 billion profit for the first quarter (http://online.wsj.com/article/SB124021187032334351.html#mod=testMod), yet stated that $2.2 billion was due to mark-to-market accounting.
I think it is going to be awfully difficult for BofA to continually adjust their illiquid assets going forward. It is also purposeless to compare to first quarter of last year because of the accounting changes.
Thoughts??????
About Me
- Spolitico
- MN, United States
- MATTHEW RASMUSSEN Minnesota Mattras27@gmail.com <><><><><><><><><><><><> EDUCATION 2006 – 2008 Daniels College of Business, University of Denver Denver, CO MBA G.P.A. 3.7 1998 – 2002 University of St.Thomas St. Paul, MN B.A. - Major: Finance; G.P.A. 3.4 <><><><><><><><><><> 5 years experience in Capital Markets, Business Consulting, Overhaul Marketing, and Sales. <><><><><><><><><><><> ACTIVITIES AND AWARDS - University of St. Thomas Dean’s List 1999, 2000, 2001, 2002 - Captain University of St. Thomas Golf Team, 2001-2002; - Varsity Golf and Hockey 1998-2002 - 2nd Place First Data/University of Denver Problem Solving and Presentation Case Study - Volunteer for St. Jude’s Children’s Hospital, St. Mary’s Basilica, 9Cares Colorado Shares, University of Denver, The PGA of America and Youth Hockey Coach , 2003-2005
No comments:
Post a Comment