The rules of the Basel accord is expected to make banks raise capital and hurt profits. In reaction to adoption bank stocks fell taking the market with them.
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Does it strike anyone else as absurd that if these companies used the same accounting rules (which are still riddled with loopholes) as everyone else they would implode overnight.
TWJP,
Not absurd at all…even funnier is that as they implode the profits of the banks will go through the roof according to cook the books accounting rules the congress change a few years back