Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
My understanding is if the banks and other financial institutions wrote down their debt, marked to market, they'd be bankrupt.  Which would collapse the $822 billion a day US bond market, which would, IMHO, collapse major US corporations who depend on the Money and Bond markets for short and long term financing.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
by ATinNM on Sun Oct 30th, 2011 at 01:10:25 PM EST
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