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Bank Profits Mirage

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IN THE ABSENCE OF WATER WE'LL DRINK THE SAND
"All is far from well in bank-land," observes the Naked Capitalism blog. The issue is the "profits-goosing strategies" banks are employing. "Annaly tells us that the FDIC Quarterly Banking Profile show that loan loss reserves, although higher than the level of 3Q 2008, is lower than the levels of 1Q and 2Q 2009. And that is cause for pause:"
SOURCE:   Naked Capitalism

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