Friday, May 7, 2010

If Bankrupt - question to self - can you act as a trustee - Greek and other Implications...for Vitamin C, K, R, F

When the holiday "trip" from financial reality is ended
(when Assets are marked to a real, traded market, not simply a ratings based marque of value, as seems to be the past and current mis-practice),
Who will be left standing and statutorily qualified to serve as a trustee for citizens of:
Certain Government agencies
Certain Banks
City of Los Angeles,
States, Counties around the US

Just take a look at assets compared to liabilities - both on and off the books. The matching principal, though a requirement appears liberally construed, rendering "official books and records" viewed with an asterisk.

And likely a root of what Mr Blankfien stated in today's interview with David Faber of CNBC, ~"it's not about fundamentals, appears rather a current crisis of CONFIDENCE" - me wonders if adding a dose of recognition (an action verb) of real, not model value to financial statements and disclosures might help to assuage those malnourished in Vitamin C (confidence) and at the same time also boost Vitamin K (Knowledge) so that more can enjoy Vitamin R (Reality); and avoid Vitamin F (Fantasy).

As last I checked, insolvency precludes that institution from acting as a Trustee.
Just wondering...when all those assets might see the light of / and reaction from a real market.

And let's not forget, the US is a member and major funding source of?
The IMF; US Taxpayers bailing out those (erstwhile) Greek revelers

Ending the siesta on the US taxpayers dime one little easy to read blog at time.

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