Wednesday, September 30, 2009

Why There's A Cartel:

"Insured" Commercial Banks:

Total Tangible Assets = $11,385,309,000,000
Total Liabilities = $10,525,879,000,000
Adjusted Equity = $859,000,000,000

12.25 to 1

MBS held = $1,157,041,000,000


p.s. I'm beginning to embrace the extended 13 digit notation so as to help us appreciate how far we've come. I figure if the banks/fed (ultimately debtors) go through all that trouble to add 'em I should, at the very least, show due reverence and display them in all their magnificence.