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America's Banks: Are They Really Insolvent?

It seems to me that there might be a place or way to suspend mark to market for certain fixed income assets such as mortgage backed securities and instead utilized a cash flow model at least for a specified period of time. This would buy time for a true accounting of each mbs thus providing a higher degree of transparency which should result in better liquidity within that market. Its the lack of transparency of the mortgage back market that has dried up bids for these securities. Of course, there are defaulted loans but if all is revealed, the securities will be judged on true cash flow analysis and not fear of bad loans.
I mean lets face it. Its something like this or we can just borrow a few hundred billion only so we can hang onto an accounting measuring stick that can bust us if securities should face a suddenly challenged with liquidity problems.