Fallout From Bad Loans Rocks Regional Banks

[moh malekpour]

http://www.nytimes.com/2008/06/19/business/19bank.html?_r=1&ref=business&oref=slogin

Bankers, who tried to assign innings to the credit crisis only a few months ago, are now resigned to participating in an extra-inning game. Several analysts now think that industry losses will not peak until next year.

“We have gone from shock and awe to blocking and tackling,” Mr. Ellison said

 

[Restrain]

Bank losses now estimated to exceed $1 Trillion. BOOIIINNG!

 

[rcsone]

....could not these losses be due to excess profits reclaimed from poor lending decisions' greeds......they got ahead in the past and now have to return phony, ill-gotten gains from the pressured and the uninformed.......I am pity-lessered......next they will back to the taxpayers, ie: IRS, and receive income taxes paid credits for future incomes from other successful "angles" to come.....wonder what BofA will get off of further earnings from the "overpayment" of taxes by income averaging with losses carried forward from Countrywide?.........make monies from current operations and charge the taxes back to the government as tax credits for "helping" offset tax liabilities that will happen..........and there is no government bailout?....rs