Hints and tips:
...Increased focus on the home, reversing some L-T adverse trends....
...While S&P issued a rating downgrade from B- to CC, one notch above default status....
...Peter Grauer, Mr Bloomberg’s successor as chairman of Bloomberg L.P, earlier this month embarrassed the Labour party by signing a letter in support of the Conservatives only a day after Ed Miliband launched...
...- Get P&L hit from the impairment and also from the 30 that was being hidden in OCI at the same time....
...However, we are more negative than the market on the structural profitability of the system which is likely to be negatively affected by the P&L effort required to deal with the €322bn exposure to real estate...
...of the failed S&L institutions....
...PERSHING SQUARE CAPITAL MANAGEMENT, L.P. Respectfully submitted, William A. Ackman...
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