"Really Stupid Strategy” to Hide Bank Losses, Aaron Task has interview with former bank regulator William Black Posted by L Levin on August 16, 2010 at 7:49am William Black: Capital is defined as assets minus liabilities. If I get to keep my assets at inflated bubble values that have nothing to do with their real value, then my reported capital will be greatly inflated. When I am insolvent I still report that I have lots of capital.Aaron Task: You are saying the FDIC is intentionally keeping foreclosures down because it knows it does not have enough money to pay off depositors who are insured by the FDIC? Full video......http://fedupusa.org/2010/08/15/former-bank-regulator-william-black-u-s-using-rally-stupid-strategy-to-hide-bank-losses-will-produce-japanese-style-lost-decade/# Read more…
