Comments on: Opaque bankers http://blogs.reuters.com/felix-salmon/2009/12/03/opaque-bankers/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: vk9141 http://blogs.reuters.com/felix-salmon/2009/12/03/opaque-bankers/comment-page-1/#comment-9627 Sat, 05 Dec 2009 10:42:40 +0000 http://blogs.reuters.com/felix-salmon/2009/12/03/opaque-bankers/#comment-9627 Phil, you miss the point I’m afriad.

I’ve worked in financial reporting all my career and I agree big US bank reporting is incredibly opaque.

Yes, Citi has been through many incarnations of late, but non-financial companies regularly restructure or go through M&A without as much opacity.

And let’s not get started on SIVs, a most blatant way of gaming the accounting and regulatory framework.

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By: Phil http://blogs.reuters.com/felix-salmon/2009/12/03/opaque-bankers/comment-page-1/#comment-9596 Thu, 03 Dec 2009 20:06:15 +0000 http://blogs.reuters.com/felix-salmon/2009/12/03/opaque-bankers/#comment-9596 So three banks report trading revenues differently, and the “reasonable conclusion” is that all three banks are trying to hide information about their true trading revenues?What utter swill.Citi SEC filings split the company up differently in different years because Citi was a different company in different years. Morgan Stanley Smith Barney, anyone? Remember all those huge SIVs Citi bailed out and reconsolidated? You don’t think Citi had to change the way it was splitting companies up in its SEC filings when it did that?And here’s another piece of hot news for you: Citi, BofA, and Wells Fargo are all different companies, with vastly different types of subsidiaries and governance structures. They should report earnings differently.Clearly Salmon has no earthly idea how SEC filings are put together, and doesn’t care either. Reuters should be able to get a blogger who isn’t shockingly ignorant of basic financial market practices. Or at least someone who’s thinking doesn’t transparently go like: “Hey, look how many “pageviews” and “inlinks” I can get when I tell people who really want to hate Wall Street exactly what they want to hear!” It’s embarrassing.

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By: ron burke http://blogs.reuters.com/felix-salmon/2009/12/03/opaque-bankers/comment-page-1/#comment-9594 Thu, 03 Dec 2009 20:02:37 +0000 http://blogs.reuters.com/felix-salmon/2009/12/03/opaque-bankers/#comment-9594 on 12/2/2009 John Silvia, chief economist for Wells Fargo stated that by lowering the minimum wage, it would help jump start the economy…my problem with that idea is that it takes years for the minimum wage to be raised…lower it will only set back millions of Americans for no good reason…thanks

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By: Don the libertarian Democrat http://blogs.reuters.com/felix-salmon/2009/12/03/opaque-bankers/comment-page-1/#comment-9578 Thu, 03 Dec 2009 17:59:46 +0000 http://blogs.reuters.com/felix-salmon/2009/12/03/opaque-bankers/#comment-9578 “Or will they always find a find a way to bury them somewhere invisible? I think we all know the answer to that one.”They certainly do. In looking at change for our banking system, focus on what they don’t like or ignore.

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