RE:good interview on cnbc this amCarsT1 wrote: serious allegations on ffh about their financial accounting - essentially report states the carrying value of underperforming investments are overstated. the premium assigned to book vaslue therefore means share price should come down over 20% at least from present value.
You mean like the big banks allowed to value their underwater Treasury bonds at par to what they paid , instead of what they could sell them for? I bet Muddy Waters wouldnt attempt shorting BAC.....with a short and distort technique.... FFH likely is underwater on those same treasuries...Most the banks that were buying them when the interest rate was near 0 , are down, if they didnt take the loss dumping them early.