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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Knighty Tin who wrote (171282)6/8/2002 4:48:53 PM
From: yard_man  Read Replies (1) of 436258
 
I was referring to an article on BAC a while back. They made some pretty sizable one-way bets on terest rates that ran pretty far against them, but they didn't mark them to market when reporting their earnings for a couple of quarters. The market then went their way and bailed them out. Article talked about how bad their earnings would have looked had they marked the positions to market.
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