It’s a positive all the way around, except for the investors investing their money in your bogus financial reports!
Federal bank regulators issued guidelines allowing banks to keep loans on their books as “performing” even if the value of the underlying properties have fallen below the loan amount.
“It’s a positive all the way around,” said James Smith, chief credit officer for National Bank of South Carolina, a unit of Synovus Financial Corp.
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Answer me this.
As an investor that invests based on the quarterly and annual reports that our companies issue, or more importantly, the fundamentals of a company.
How can you trust these financial reports when our government allows them to lie to you by valuing worthless junk as valuable?
Wait a minute, isn’t that the same thing that our government does to all of their reports that they issue such as the unemployment report, etc.?
That must be where the FDIC got that idea.
I guess they figure if Uncle Sam Obama can do it, so can we!