No Wonder Banks Don't Have Money to Lend

Now we have this global credit crises. One of the reasons banks don’t have any money to lend is because of Mark To Market accounting . One problem leads to another doesn’t it? Can you imagine if someone knocked on your door and expected you to pay them 10% of the value of your home tomorrow, just because the value of your home dropped 10%, and regardless of when you planned to sell your home? Most people couldn’t do it, and that is what the banks are expected to do right now. It doesn’t work. It’s an ugly scenario and we’ll see how it plays out. Some think this method of accounting should be banned for now due to the situation. We’ll see…

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