⚉|⚇|⚉ Bathroom Stall Prophets

The Stalls of Higher Thought

Peter Schiff Explains Mark to Market Scam.

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Peter Schiff: New rules will allow banks to keep the full face value of mortgages on the books regardless of their current market values are as long as someone is paying the mortgage. This will lead to great insolvency and will only serve to allow the insolvent bank to stay afloat a little while longer all the while collecting more depositis and lending more money.

This is exactly what Bear Stearns was doing before they nose drived. Complete and utter madness!

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Written by mattliving

April 4, 2009 at 12:44 pm

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