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Did You Hear The One About The Bank That Couldnt Count?
2014-05-07 16:12:00| Climate Ark Climate Change & Global Warming Newsfeed
Rainforest Action Network: Last week, Bank of America (BofA) admitted a huge accounting error--for several years, it claimed a whopping $4 billion more in capital than it actually has. The day BofA announced its blunder, its shares closed down more than six percent, the stocks biggest drop in two years. But BofA had to come clean. Regulators, shareholders and consumers need an accurate picture of banks` balance sheets. BofAs admission gives us a rare chance to raise a far bigger question: What else are they hiding?...
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Category:Electronics and Electrical