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-- as we discussed.
You and I were discussing member yesterday you were with me.
Right you better be with me every day right.
As we discussed tomorrow to very large and controversial financial firms will report quarterly earnings and they might just want to employ some.
Looking up as far as traders are concerned be looking at any kind of accounting maneuvers engineering some might call them tricks.
Adam Shapiro getting to the bottom -- you just you just tricks -- -- -- -- USA will label leave that was.
I think I comment wasn't what I can't say that -- brought that up I thought that's really what it's all about tomorrow I mean we can talk about.
Ready reserves and room reserve releases which you know if they take money which is an accounting move at some of the banks -- do they take from their loan loss reserves and they move funds over to the other side to make it look it's a boost the earnings.
But it's not boosting revenue excessive shows -- better for the earnings it's just money's fungible moves around that -- until it's kind of like when you leave when companies boost their earnings by perhaps laying off employees can only do that wants and then.
It's not a good thing but the other thing is this debt valuation adjustments -- has been around since 2008.
A lot of banks do this by -- guy even Jamie Dimon has been has been leery of this kind of maneuver.
He's been -- Leary as well releases from their reserves.
But this essentially allows it's an accounting gimmick which allows banks in some debt instruments that have -- market value declines.
-- -- is games and it's it's a complicated formula that I think anyone truly understands other than the fact that if the market value of say your bonds is falling in you were defendants did you know by -- and and clear out the net.
You would posting gains so they allow them to post that forward but it candidate -- -- go belly up for that to happen it's one of those crazies but the banks do it and -- and again it's not a real money.
I just have to ask you because they've had quite some time several weeks to figure out how to get this number out.
Will you believe the number when JPMorgan release.
Probably a lot what I believe doesn't matter -- a look at JPMorgan Chase -- -- -- this is something we can all easily understand it just to boil this down.
They're gonna take two hours tomorrow on their earnings call that -- double the time they usually would take they're starting at 730 -- at 9 AM which is when they would usually start.
So that I it sounds as if they want to clear up the real issue everyone's listening for which is the size of the trade loss between to a nine billion dollars and get that out of the way.
Fox Business we'll have those numbers JPMorgan is of course the Dow component you might own it in your portfolio.
It will probably affect the markets one way or another so we'll have all of that for you Adam thank you.
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