Footnotes: A Tale of Two TARPS; The Real Problem with Bank of America’s Accounting Problem | 04.30.14

Ed. note: forgive the brief FN, our highly-trained team of monkeys is working on a big story for you guys — stay tuned!

U.S. Lost $11.2 Billion in GM Bailout, TARP Report Says [Bloomberg]

Here is an interesting article about why Facebook blows [Deadspin]

Treasury's Repo Men Take Back Tractors, Piles of Cash, and Other TARP Loot “Crime in banks, particularly by insiders at banks that applied for or received TARP, erodes the American public’s confidence in the banking system, making the banking system another victim of the crime,” Romero says in a new report to Congress. [Businessweek]

What Bank of America’s Accounting Mistake Can Teach the Market If Bank of America took five years to discover the true nature of its exposure to risk in structured products from Merrill Lynch, then what about the other big banks? Do they have strong enough management of their risks and good internal controls to detect accounting problems? Especially with structured products, it is worth analyzing whether the auditors — both internal and external — are getting enough information on how the banks value and measure their risks. [DealBook]

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