3 votes

Mark to market fraud

Here is an interesting article on the mark to market rule change and how it allows banks to completely mask their worthless holdings and use it as collateral to borrow money from the FED at almost 0% interest.

The MTM (Mark-to-Market) rule forced banks to continually adjust their books to allow their assets/liabilities to be adjusted to at current "fair market" price. Simply stated, if the banks had an asset that was worth $10Billion in 2007 and worth $4Billion in 2008 they would have to "Mark" the price adjustment into their books as "Current Market Value" This also works in reverse, if that $10Billion asset tripled in value then the banks got to reap the newly adjusted $30Billion price tag. Obviously when the market was crashing, this rule was devastating to most of the banks. Much like the homeowners that purchased their homes at the height of the bubble, just to watch the value plummet into the toilet overnight.

Read more here: http://www.twatm.com/index.php/economics/item/8-mark-to-mark...




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Mark to fantasy, mark to

Mark to fantasy, mark to Unicorns, mark to make-believe.

This combined with the POMO operations (QE1 & 2) sent the market a blazing with freshly printed money. This correction is going to get ugly I'm afraid....

www.coinaxis.com - ~ Learn more about bitcoin/litecoin, and how they relate to the liberty movement.

Mark to Market? Mark to wishing well tomorrow.

You see, I can always beat the newspapers to my own opinion. Some of them rough me up a bit... ah, life as a journalist.

What did I buy at the market? Ha! You believe newspapers? I did not go to the the market, since last Sunday. Ask my pony. He was there... & has more sense.

Well, back to my original thought... What shall I wish? The kids have been wishing for another pony... We could call it liberty.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

fireant's picture

Ben is sweatin bullets over this.

Rising interest rates will cause it to blow up in his face.
A+ article.

Undo what Wilson did

Ben is sweating everything

I believe good ole Ben is sweating bullets over just about everything these days. The slightest interruption in his money orgy could restart the correction.

Let's hope it blows up in Ben's face and not the citizens of the worlds faces :)

www.coinaxis.com - ~ Learn more about bitcoin/litecoin, and how they relate to the liberty movement.

Ha! Ben ain't sweating! Just saw him down at the cooler.

Why he is sitting inside next to the cooler, chatting up another newspaperman. We just gotta get a proper newspaper in this town.

Seemingly to feed the chickens, Uncle Ben tosses some chicken scratch out into the yard... Fed the chickens?.... The chickens had no chance.

Those reporters pick up the feed sooner than an Okie, bound for California, 1937...

Next morning, that chicken scratch is front page news! & the Okies are still hungry.

We just gotta get better news in these parts. This "Free Press" is getting too expensive. Chickens are kind'a skinny this year.

--------------------------

Museum, City of San Francisco

[California] State to Study Relief Problem of Indigents, 1937

By EARL C. BEHRENS

Continued influx of thousands of indigents from the Middle West into various California counties, adding to increasing relief burdens, has resulted in the calling of a State wide conference at Los Angeles to be held during the week of July 19, 1937.

Serious relief crisis as well as possibility of epidemics is threatened, according to Supervisor Gordon McDonough of Los Angeles County, one of those instrumental in calling the relief conference.

San Francisco Museum, 1937
http://www.SFmuseum.org/hist8/ok.html

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Been sweating myself... Shovelling.

Not so much about going to the market. My pony enjoys the walk there & back.

Anyway, I was surprised to hear Uncle Ben was sweating; usually folks do that when they work hard. Never seen him do that.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul