That's with unrealized losses, and accounting loopholes.. And also why regulators are looking at closing loopholes that allow banks to report that type of scuffed BS, while hiding the cancer they have.
Only problem, is if regulators close the loophole accounting, they risk slaughtering banks in a way, not ever seen.
Between fractional banking, and loophole accounting, there will always be sacrificial lambs that will need to be fed to others, in order to keep the scheme going.
Let's face it, regulators won't, most likely can't, stop this. It's the largest scheme in the history of mankind, and any regulatory wrench, will be the end of the world as we know it.
$FRC about to have it's head chopped off. It's sacrifice time!
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