http://tinyurl.com/4vhnogt
CNBC Video - Jan. 19, 2011
Discussing earnings results for Goldman & JP Morgan, with Charles Bobrinskoy, Ariel Investments, and Christopher Whalen, Institutional Risk Analytics.
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Solvency is not even a question...
The 4 largest banks are insolvent many times over. Their puny and massively over-leveraged capital bases would not just be wiped out, they would be turned into negative multiples of the original equity.
Then take the next step and understand that these same criminally fraudulent and insolvent institutions, are paying their executives $144 billion in bonuses this year, based on false accounting that was endorsed by Congress and jammed down the throats of FASB in June of 2009.
I wrote about the criminal insolvency of banks here.
And here:
* VIDEO: 120 Seconds Of Gerald Celente Kicking Wall Street's Ass - "$144B Bonus Is 49th Largest GDP In World!"
* What If The Bankers Gorged On A Record $144 Billion In Bonuses And No One Noticed
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Bill Black has made the case recently here...
* William Black Calls On FDIC To Seize Bank Of America
* William Black With Dylan Ratigan: "There Is Bank Fraud Everywhere And BERNANKE Is Leading The Cover-Up," PLUS Part 2 Of 'Seize Bank OfAmerica'
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