Wednesday, April 14, 2010

US bank accounting 'masks true debt levels’

Kudos to Max Keiser my favorite non Austrian economic thinker for calling this months ago. Basically the banks are playing a game of picabo with the debt they are holding. They are unloading it prior to reporting and then taking it back on after report. Max Keiser says that this is standard practice withing the banking establishment, especially since the crash.

For all you guys feeling good about the money you've been making in financials in past weeks, read this article.

Click here for the story.

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Nick Sorrentino is the Editor of The Liberty and Economics Review and CEO of Exelorix.com a social media management company.