Excuse me, but when did REVENUE become profit?

[originalpckelly]

They have revenues, of course, but do they have a NET INCOME?

What the fuck is this bullshit? And it was if you removed the marks on their assets, which means that the mark downs weren't included in that. So it's very possible Citi has a loss due to the markdowns.

Someone please tell what the fuck is going on here?

[Double T]

1. Selective creative phony accounting allows an entity to produce.......

ANY desired results.

[girl gone mad]

2. It's all nonsense.

Pandit claims they made some money, as long as you ignore all of the toxic assets that they're losing money on.

I guess getting free money from the government every few months is what passes for a great business plan these days.

[elleng]

5. well, thats the 'good' bank vs. the 'bad' bank, eh?

.

[PBS Poll-435]

3. EBITDA

nt

[elleng]

4. Is THAT what all the hooohaaa was about today?

.Creative accounting?

[Pirate Smile]

6. Link?

:shrug:

[BuyingThyme]

7. With the coming of Joe the Plumber.

[JackRiddler]

9. heh

[readmoreoften]

8. Everyone rallies because they think everyone else is going to rally even though they know it's crap.

Just like everyone knew the housing bubble was crap. Everyone's just psychologizing the market. Legalized gambling.