Fiction or Non- Accounting Fraud is a Felony? What Does This Have to do with Homes In Foreclosure?

Fantastic article by Karl Denninger on Market Ticker shows how distressed homes are the "visible side of accounting fraud," and calls for stopping "the looting, and start prosecuting." 

"Mark to Myth Losers: Americans" pulls back the curtain on the Wizard of Banking-Oz, defines terms, and points out many of the slimy realities behind the question for so many Short Sales: "What is taking so long for the bank to decide?"