Fix the Banks!
Reposted from: http://www.activistpost.com/2011/08/fix-banks.html
August 31, 2011 @ 8:54 am
Greg Hunter
USA Watchdog
If there is one central theme to the ongoing financial crisis we face, it is an insolvent banking system. It is so bad that the accounting rules were changed (after the financial meltdown in 2008) to allow banks to value assets on their books at whatever they think they will fetch far into the future. So, the billions of dollars of underwater mortgage-backed securities and real estate sitting on the balance sheet is held at imaginary values to make many banks look solvent when, in fact, they are not...