Jun. 28, 2026
It is not like they always tell the truth in the quarterly reporting. In 2008, after oil and gas prices returned to normal, but before retail prices came down, all the Stock market corporations reported record gains in the 3rd quarter reporting. One bank had been used by the Fed to collect all the worthless Mortgage based securities and it reported bankruptcy. Unfortunately, the Fed did not tell President Bush about that plan, and he used discretionary funds to bail out that bank to the tune of 100 billion $. Immediately ALL other market participants reported record losses and claimed that they, too, had to be bailed out. So, started one of the biggest market bailouts since the 1929 crash. So, either they all lied about their current status to get bailouts, or they had lied on their 3rd quarter reporting of record profits. AND NO GOVERNMENT AGENCY HELD THEM ACCOUNTABLE.