Combine this info with the serious continued contraction in housing and you see why the banks cannot admit to the real value of the assets they hold. Way too many would be insolvent. The market value of bank assets are being trashed by the implosion of the real estate market following, of course, the period in which government policy artificially inflated the market in the first place.
As Bankers Kill Off Mark-To-Market For Good, Former FDIC Chairman Gloats | zero hedge: www.zerohedge.com/article/bankers-kill-mark-market...loats
http://chum.ly/n/629291
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