The Bank of America CEO, in denying there’s a bunch of bad banks in a bylined WSJ column, would prefer you do NOT read an actual news story about the financial status of his bank.
McClatchy reports that B of A, along with Citibank, HSBC Bank USA, Wells Fargo Bank and J.P. Morgan Chase, has a current potential loss exposure to derivatives of nearly $600 billion.
Now, that’s potential, not actual.
But that figure jumped nearly 50 percent in 90 days.
AND, worse yet for Mr. Lewis, it DOESN’T include the corpse-like Merrill Lynch “assets” that B of A bought.
Do read that an actual news story, though. It’s an eye-opener.
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