If a Bank is Bankrupt, Just Change the Accounting Rules!

[TheRichieCShow]

Your asking the right questions.

[MegaEmailer]

It must Geat God,that my heart.

[catalinaguerrero]

JEW

[nwofromoldbabylon]

MONEY what about this way: youtube.com/watch?v=Y14CHYN-9y­k youtube.com/watch?v=l7zBYIsU6x­o

this guy is a killer!!! i respect your intelligence black brother, but still all these stupid slaves here pffffffffff

[chiggerno19]

You passed the Credit Card Act to protect consumers. Instead, the interest rates on my credit cards doubled even though I had not been late for 10 years. The banks are now going to do away with free services such as free checking. When are you going to learn that the banks are smarter than Congress and will find ways around your Financial Rules and the consumer gets stuck with paying the tab? If this is the Dems answer for fighting for the little people, then STOP IT!! I can't afford your HELP!!

[peteypeege]

Mark to Market is one of the most foolish accounting practices. Imagine if you owned a buffet and had to set your prices based on what people who had just left another buffet would pay.

"Fair value" means that even if you're not willing to sell your assets at current market prices, you have to value them at what they would sell for in a fire sale. It makes companies who plan for the long term look weak and companies who rely on speculation look strong. It's a complete reversal of economics.

[passionatecutie]

The only thing we can do is bankrupt the bankers....and rob our revenue back.....GLOBALLY!! Then create the Grayson Highway fund bank...hehehe...BRING EM DOWN...Downshift....The truckers need you!! You speak the TRUTH!! Tell Obama I'm trading him in....LOL J/K...Well I was Obama girl 2 and we can change our mind...hehehe YOU MUST WALK AND TALK THE WALK...We hear ya...well maybe...Grayson girl #3, #4....whatever!! LOL Sniff their butts!! Get them outta ours!!

[bweazel]

Man, I realize the guy is probably nervous, but does he have to giggle like a school boy after everything he says? That is one creepy guy.

[amoqhandz]

WE are not WE THE PEOPLE. The misunderstanding of that slight detail changes the entire meaning behind that document. Careful before you speak about research. Here is some research for you... a proclamation is only a public notification. War is never proclaimed....it is DECLARED! Right? Now follow me,the DECLARATION OF INDEPENDENCE has the real substance! Until you DECLARE your rights and standing PROPERLY, you don't have SHIT as they say. Own nothing, control everything, including YOUR NAME!!!

[bertly71]

A clear and honest moment among government officials? I am impressed. Good question and answer.

[amoqhandz]

you don't have any reps in washington, d.c.! what are ya'll talking about. do ur research... this a CAPITALIST SOCIETY! the opposite of capitalism is..... DEMOCRACY!. they are fuckin' lyin' to all of you. WAKE UP AND SMELL THE COFFEE OR YOU MIGHT NOT WAKE UP.....EVER!!! don't mind me.

[robert7654]

This is a corporate-fascist society- do your own research! And the US was set up as a Republic! Maybe you should ask why the founders of the country avoided democracy like the plague! Majority rule is just might-makes-right in different clothes.

First you have to define personal liberties and rights, then you go from there to set up the constitution.

[peteypeege]

Democracy and Capitalism are at odds, that is correct.

Capitalism, by definition is a system of government in which the initiation of force by anyone is made illegal.

Democracy on the other hand is a system where 51% can initiate force against 49% if they so vote.

Stop believing the non-sense that Democracy equates with Freedom. They are opposites. Democracy is just the tyranny of the majority.

A Capitalist Republic, a system ruled by laws, not by majorities, is the only proper govt system.

[chacconne33]

@peteypeege "Where the law of the majority ceases to be acknowledged, there government ends; the law of the strongest takes its place, and life and property are his who can take them."

--Thomas Jefferson to Annapolis Citizens, 1809.

[mikemat3307]

All banks that practice fractional reserve banking ARE INSOLVENT! Which is, all of them.

[steve89z]

is herz a typical ny jew?

[30percentplusreturns]

Grayson for president!

[thomdd1959]

I want to know the truth now! Who helped Ben Bernanke embezzle our money? Who is Involved and how many? How long has this been going on for? Where is our money? How do we get it back?

[danmarino1970]

talking heads.. veterans who fought, who bled for this country, people starving in the street, our own health professionals are vaccinating our children to death, the elderly, poor without healthcare.... these guys... 2,3,4,5 trillion dollar parachutes and enought money stored away in the bahamas to last any of us 100 lifetimes. My question.. why aren't our soldiers our generals defending us against these domestic terrorist.. i would love to see these guys locked up for TREASON.. all of them!

[steve89z]

great comment.i'm ashamed to be an american.the usa is corrupt as hell.

[peteypeege]

Don't be ashamed to be American. Be ashamed that the Republic is dying. The original ideas that this country was founded on are being ignored.

The people who win in our current system of pressure-group-warfare are the idle poor and the well-connected rich.

Those of us who wish to pull ourselves up out of poverty would do better in a society that respected the rights of individuals and did not force us into groups.

See Atlas Shrugged.

[cjm608]

@peteypeege petey? i agree 100% and i couldn't have said it better.

[thablackmarkit]

That goes beyond making/watching videos.

What have you done?

Have you called your house of reps ?

[RoyBear07]

Robert Herz is an honourable man or he would not be heading up FASB. u have to understand what he is saying. He is not saying he changed the rules but he is saying that some people want to bend the rules to avoid showing huge losses so they can sell their busted banks. He is quite right to resist this. These corrupt bankers should go to jail.

[Tuza]

Robert Herz is not a politician. His nervous laughter betrays a deeper understanding of the players than he is given time to elaborate on.

[swizzlecheeks]

These smug answers are one of the reasons we need to AUDIT THE FEDERAL RESERVE!!!!!!!!!!!!!!

[Miteysquirrel]

You dont see phirana eating there own, thats why...they are all crooks except for a few.

[Silberdachs]

Why aren't these white collar criminals in jail yet?

[sdkee]

The real criminals are in the Fed. They pumped the economy with low interest rates, inflated a bubble, and these guys were caught at the end of it. These guys reaped the benefit during the bubble because most of the new money flowed through them. Housing went through the roof because, after tax breaks, artificially low mortgage interest was less than inflation.

Follow all the trails to the source and you get to the Fed.

[1977vintage]

They are not in jail because you are not demanding them to go to jail. If you witness a murder, do you just leave and say "I hope they catch that guy". Come on, do something, write your local congressmen and state senator. Do something! In the time you wrote that message you could have wrote your state reps.

[Silberdachs]

1977vintage: I appreciate your sentiment, but as a UK citizen my options are limited regarding the application of effective pressure on US congressmen and senators. I hope all US citizens take note of your call, though. These crooks have pulled off the scam of the century. Are you going to let them get away with it and pick up their tab?

[Domeage]

Dont tell me the house of commons and Parliament are off limits to you.

You can impact your own countrymen as much as we can ours. It takes us all to move the mountain. Especially when they have the guns and the power to use them without retribution.

[muiere2]

look if you want to make money, by any means go ahead. people come from all over the world in America "the land of opportunity" so you cheat, steal, kill, lie do whatever it takes. But how much is enough? 50 million is not enough to retire on. 100 million? 1 billion? When will a CEO stand up and say: Look I made enough it's time to pass it on. FUKING GREEDY BASTARDS. I can't wait for the economy to collapse I;m going to sleep in their Mansions

[Domeage]

You'll be in good company with hundreds of thousands of other lazy bastards who want to take without working. You want a Mansion now, go work your ass off get educated and get your own! They get the big money because they took the big risks and created a company of their own. The only thing stopping you from getting yours is your hate and ignorance. The FED on the other hand, they can rot in hell. They are the criminals of the millennium!

[muiere2]

to Domeage look at the news and how many CEO's get busted for fraud? Firs I'm not lazy you douche, I own my ownbusiness..HONEST BUSINESS. Those CEO's worked their ass off? FU! The only thing they did was grease the politicians hands to get laws passed in their favor, and if you try to compete with them they make sure you fail. SO just stay at your 9 to 5 job, eat your little cheese sandwich and praise your company CEO while to them your just a number..good luck

[Domeage]

Don't let that Pelican bite you in your ass. FU too. I don't eat cheese. For another I am the CEO of my co. and work 8 am till 11pm and my employees make better wages then any other in the industry because I take good care of them. Their aren't any "numbers" in my company, they are people with names and families and I never greased a politician ever. What we do is called hard & smart work. I'm glad to know you own an honest business. But if so how can you bash others you don't know?

[goku21youtub]

so you´re a CEO but you don´t know the difference between "their" and "they"?

wow man you´re a big liar .. now stop tube-kiddo

[Domeage]

yes, grammar and spelling. The root of politician scum like you

[steve89z]

learn how to spell they're

[Domeage]

Maybe some of them are just like you!

[uconnfb74]

well when your intelligent and get many degrees you get what ever you want. So go to school

[trufiend138]

go back to sleep...

[evildevinity]

Time for a general strike north america wide, If we all stand up and say screw you we arnt giving you any more of our money , they cant arrest all of us.

And trust me none of these criminals will see time over this, but you stop paying taxes and see what happens to you over a 2 grand tax bill.

[VPSF2]

Where the fuck do these smug fuckers get off smiling through this? Criminals.

If I did this on any smaller scale, I'd be shanked in prison. Where are the indictments?

[TheSharpenedPen]

McClatchy (03/08/09)

J.P. Morgan had potential current derivatives losses of $241.2 billion, outstripping its $144 billion in reserves, & future exposure of $299 billion.

Citibank had potential current losses of $140.3 billion, exceeding its $108 billion in reserves, & future losses of $161.2 billion.

Bank of America reported $80.4 billion in current exposure, below its $122.4 billion reserve, but $218 billion in total exposure.

[TheSharpenedPen]

They recently changed the inflation figures, & the jobless figures are a complete crock - the US would be closer to 20% unemployment using the 1930's stats. Interesting that the media should keep suggesting that this is nothing comparable to the great depression based upon the job #'s, when the unemployment figure calculations can easily hide an additional 10%.

Citibank declares a profit after receiving 10's of billions from the taxpayer? 8 billion before expenses? What's that in real money?

[starfireucsd]

That's right... just change the accounting rules.... criminal fuckers.....