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April 22, 2009

Financials Are Insolvent

Companies like Bank of America are basically insolvent. I don`t care what they earn this quarter or what they pretend to earn. The losses are enormous and are buried in their balance sheets.

The companies are insolvent, anyone who`s buying stocks in any of these financials should have their head examined. They are going to lose a lot of money.

(Originally on Peter Schiff`s Videolog)
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