bindlepete

America's Banks: Are They Really Insolvent?

The writer is dead wrong in raisin money by debt has no impact on the " solvency issue" as for each dollar one raises one increases liability buy the same dollar.

Second, The Basel II agreement/treaty was approved by the Senate so it is US Law. That agreement required full transparency of financial institution assets. with all being market to the lower of cost or market.

Paulson tried to side step this legal issue with SIV and failed when his scam was pointed out. So Bernanke let itr slip as did the Dept of Justice, the Comptroller of the Currency and the FDIC and SEC. They all dodged the issue and buried it.

The Banks have yet to expose of account for their full liabilities and Barney Frank has and had the chance but he won't do it.

I can thus conclude that they are insolvent and should be in receivership. I recognize this is painful but integrity, the law and our future demands we wake up and be honest with ourselves. Continued denial is criminal.