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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: koan who wrote (46709)8/9/2007 12:52:51 PM
From: maxncompany  Read Replies (1) of 78428
 
"Chief Executive Officer Baudouin Prot said the bank's exposure to U.S. subprime was ``absolutely negligible'' when the company reported a 20 percent increase in second-quarter net income last week."

and then today we hear a very different story.

"BNP Paribas SA, France's biggest bank, halted withdrawals from three investment funds because it couldn't ``fairly'' value their holdings after U.S. subprime mortgage losses roiled credit markets."

You would think (as this is becoming a distinct pattern)the typical corporate strategy these days is to deny, deny, deny, until you have to tell the truth. Some people would consider such denials to be flat out lies. But on Wall Street, it's simply business as usual.
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