“I don’t trust banks and neither should you”
By Erik Kobayashi-Solomon
[intelligent option investor]
More On Banks
I don’t trust banks and neither should you if you care at all about understanding the company in which you are investing. While financial statements for all companies contain estimates, virtually every line item on a bank’s financial statement are estimates – to the extent that, taken as a whole, the statements become little more than complex, arcane works of fiction.
Conclusion
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Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com
OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:
- PRACTICES: www.BusinessofMedicalPractice.com
- HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
- CLINICS: http://www.crcpress.com/product/isbn/9781439879900
- ADVISORS: www.CertifiedMedicalPlanner.org
- FINANCE: Financial Planning for Physicians and Advisors
- INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
- Dictionary of Health Economics and Finance
- Dictionary of Health Information Technology and Security
- Dictionary of Health Insurance and Managed Care
***
Filed under: Investing | Tagged: Erik Kobayashi-Solomon, FOMC, intelligent option investor, retail banks, Trouble with Banks |
Bank of America wins reversal of $1.27 billion penalty in mortgage case
A U.S. appeals court overturned a jury’s finding that Bank of America Corp was liable for mortgage fraud leading up to the 2008 financial crisis, tossing a $1.27 billion penalty and dealing the U.S. Justice Department a major setback.
http://www.msn.com/en-us/money/companies/bank-of-america-wins-reversal-of-dollar127-billion-penalty-in-mortgage-case/ar-BBtn5Ys?li=BBnbfcN&ocid=U348DHP
Morti
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Bank of America’s Winning Excuse: We Didn’t Mean To
A federal appeals court overturned a $1.3 billion judgement against Bank of America, ruling that good intentions at the outset shield bankers from fines for subsequent fraud.
https://www.propublica.org/article/bank-of-americas-winning-excuse-we-didnt-mean-to?utm_source=pardot&utm_medium=email&utm_campaign=dailynewsletter
Ann Miller RN MHA
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You Won’t Go Far … with Wells Fargo
Wells Fargo Leaders Reaped Lavish Pay Even as Account Scandal Unfolded.
http://www.msn.com/en-us/money/companies/wells-fargo-leaders-reaped-lavish-pay-even-as-account-scandal-unfolded/ar-BByd8HF?li=BBnbfcN
Alpert
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City of Philadelphia ditches Wells Fargo
Wells Fargo just lost a $2 billion government contract with the City of Philadelphia — a move that appears partly related to the bank’s “fake account” scandal.
http://www.msn.com/en-us/money/companies/city-of-philadelphia-ditches-wells-fargo/ar-BBAEkyz?li=BBnbfcN
Now, since I went to school at Temple University in Philadelphia, this news was a bit personal.
Dr. David Marcinko MBA
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Banks and the Great Depression
https://www.history.com/news/bank-failures-great-depression-1929-crash?utm_source=pocket-newtab
Kobashi
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