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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (29211)	4/14/2010 1:52:09 PM
From: Wayners	1 Recommendation Read Replies (1) \| Respond to of 103300

The money is sitting on the books of our now Zombie banks, just like Japan did and was criticized for. This is the only thing keeping them from being declared insolvent. Every major bank in America is in reality bankrupt. The banks hold deposits made by the Feds on the liabilities side of the balance sheet to offset the toxic worthless loans listed on the assets side. The other scam is the "mark to market" accounting so that the banks can value the toxic worthless assets anyway they want. The banks are using the fractional reserve, to leverage the Fed's deposits and buy "safe" assets like Treasuries and collecting a meager return on the spread in what they pay the Fed in interest and what they collect from in interest from the U.S. Treasury. It's just a big paper shuffle ponzi scheme, papering over all the structural defects in the whole rotten system, rotten because of the stupid "too big to fail" bullshit.