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Pension Funds Threaten Big Banks Over Foreclosures

Solving the problem starts with the U.S. Federal Reserve Auditors forcing banks to write down defunct mortgage securities to "net realizable value" and doing the same on the "Feds Books". As we have said many times before, when you run two sets of books on residential and commercial mortgages, the shell game will eventually come crashing down on the U.S. Economy.