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Loan Modification

: Mortgage Lender Implode-o-Meter

Why Aren?t Banks Lending? They Are Being Rational

By Implode-Explode Heavy Industries

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"These banks STILL have to much debt, too little capital. They books are festooned with bad loans, which, thanks to our corrupt Congress, they no longer have to disclose appropriately. Thanks to Mark-to-Make-Believe, they can pretend these assets are worth near what they paid for them. In reality, they cannot sell them even at 50% off."

Full post as published by Mortgage Lender Implode-o-Meter on December 23, 2009 (boomark / email).

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