[NeoCaveman]

None of that disputes what I am saying.

That equity capital base reflects “mark to fantasy” accounting.

I’m also not surprised that their earnings are up, again see what I wrote about that too.

[Toddsterpatriot]

The allowance for loan losses totaled $35.9 billion at June 30, 2009, a coverage ratio of 5.60% of total loans.

The allowance for loan losses totaled $24.0 billion at September 30, 2008, a coverage ratio of 3.35% of total loans.

That equity capital base reflects “mark to fantasy” accounting.

The marks during the panic were the “mark to fantasy”