Tuesday, March 08, 2011

If BofA Is Happy, Then I'm Happy

Bank of America announced today it is arbitrarily taking off its books about $1trillion in bad mortgages and segregating them into what the financial mavens call a "bad bank."

Former Federal Reserve examiner Paul Miller told Bloomberg, "It's a way to talk about good things and ignore the bad."

The announcement was made in a conference call with -- wait for it -- investors.

No comments: