Barbie's Ken On Slipery Slope Again ...

Jeeezums! I just noted for reference the Ken's promise regarding TARP funds some time ago. Actually, less than a month ago. He started to drift, then... What is up with that boy today? Barron's noticed the drift too...

Not less amazing, assuming also the pending lawsuits and rising consumer delinquencies, that BAC is the 2nd best component (up 8.5% at moment today) of S&P100 as I write it ...

FASB is trying to make the bankers dream coming true, however, I cannot make the bullish case out of it. FT Alphaville has a summary on that, and S&P Equity Research had an opinion too, see here. The "dumb" credit markets continue to trade in a total disconnect with equities, see the development of 5 year CDS for BAC and C, chart courtesy of BNP Paribas. Click to enlarge.


Hopefully it does not end with tragedy!
It is so difficult to sit on hands not selling short BAC vs JPM ...