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Time Bomb in US Banking System
Just a reminder that bad home loans are a huge problem, that this is not going away and is not being dealt with in any substantial way by the powers that be:if banks really accounted for all the losses in the home loan market, they'd all be insolvent. Diane Olick report 8 March 2010 The current strategery/shuck-and-jive is to keep the defaulted mortgages off the books of the banks and the defaulted homes off the real estate market (aka "shadow inventory") in the (most likely foolish) hope that the economy and the housing market will grow its way out of the debt basement we're in. Posted by: Anguper Hupomosing9418 2010-03-20 |
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