America's Japanese-Style Banking Crisis: Billions In Bad Debts

A banking system loaded down with hundreds of billions of dollars worth of unrecognized bad debt -- Japan in the 1990s? No, it's the United States today.

And where are American banks hiding their losses? Among other places, in their loan portfolios.

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Comments

[WonderingNThinking]

Negative 750 billion?

[larry278]

Why not call a bank's so called troubled assetts or bad assetts(sp?), worthless?

[sonofsamphm1c]

Because they are not worthless.

[hill raiser]

the US economy is still a house of cards based on mounting debt. I'm tired of the administration trying to talk up the economy when no one but the very richest will benefit.

hat tip to http://www.iamned.com ...

[Sundialsvc4]

Exactly what part of "securities fraud" don't you understand?

What part of "swindle?"

"Usury?"

It's OVER.

GAME ... OVER ...

Rumpelstiltskin has come and gone. You are not "richer than the richest kings." You are BROKE.

You are not an honest man. "The truth is not in you." You are, in fact, the greatest CROOKS our world has yet seen. And you have left behind hundreds of millions of Plaintiffs.

[sonofsamphm1c]

I realize it makes progressives all giddy with hope for a renewal of recession, but the Japanese situation is not really comparable. They have a rapidly aging population, and very limited immigration.

[sonnybrakes]

So if I read between the lines, what you are saying is that the Americans who enjoyed the fruits of the problem they created can count on immigrants to deal help them deal with it. To extrapolate, the solution to this problem is to increase immigration. If this is the case you're making then the government just need to: increase immigration, double the population, and the debt will be cut in half. Sounds reasonable to me, but I'm not an economist.

[sonofsamphm1c]

No, just that the Japanese and their lost decade do not tell us a single thing about us and where we find ourselves now.

I envy the Japanese. I would have preferred that our population started declining in the 1990s so we could have the luxury of a "lost decade".

Instead, we have added tens of millions of illegal immigrants who have become a significant contributor to all that wonderful GDP growth that allows us to mock the Japanese for having very modest GDP growth, which is what you would expect with a rapidly aging population and very limited immigration.

America has been addicted to illegal immigration for at least three decades.