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: Mortgage Lender Implode-o-Meter

The Curtains Are On Fire

By Implode-Explode Heavy Industries

" To put this in a bit more simple form, this means that while the banks are claiming to be increasing loss provisions, loans are going bad faster than their provisioning is increasing - which means they're reporting "profits" that are false, as provisions for bad loans hit earnings. So we can take some more off those "reported earnings", as much as another $6-10 billion dollars."

Full post as published by Mortgage Lender Implode-o-Meter on May 28, 2009 (boomark / email).