j.p. michaels can technically conceded. accrue interest on these loans on the books despite the fact the interest is not accruing because the house the property is in distress by the time they do foreclose they go to focus. the house back so they may have to take a loss on the. interest but there's still the phantom principal loan which they might not have taken a full also on as they will when they sell the property but since properties are not selling they hold this property and inventory. from this point on what looks like potentially in perpetuity so they don't have to take the full write down it's a profit was never so so we buy a house for two hundred thousand dollars we get one hundred fifty thousand dollars mortgage on it we stop paying it the fence and interest on the hundred fifty thousand dollars until they decide to foreclose which is a year and a half to two years after the person stop paying and they charge the loan off. after the person stop paying. and they don't necessarily charge the loan off they go to a

michael's so i don't because j.p. morgan all the time you have j.p. michaels a very large bank and it has a bunch of loans on houses which which only goes to stop paying the mortgage the houses go into foreclosure ok they're non-performing but j.p. michaels can technically continue to accrue interest on these loans on the books despite the fact the interest is not accruing because the house the properties in distress by the time they do foreclose they go to foreclosure j.p. michaels buys the house back so they may have to take a loss on the phantom accrued interest but they're still the phantom principal loan which they might not have taken a full also if they will when they sell the property but since properties are not selling they hold is probably an inventory. from this point on what looks like potentially in perpetuity so they don't have to. before write down it's a profit was never so so we buy a house for two hundred thousand dollars we get one hundred fifty thousand dollars mortgage on it we stop paying it the bank still accrues phantom interes

j.p. morgan's balance sheet by one hundred dollars in phantom illusory derivatives nonsense cooked up by life masters another witch doctors back there on wall street of course we're going to do it all right michael what do you o'brien thanks for being on the kaiser report next wonderful to be with you in the lovely states year and every time you need me again i'm always available to you all right and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i want to thank my guest michael woody o'brien looking up on the web check out his work and a big fan too big dad zero six for tipping us on what he's worked if you want to send me an e-mail please do so at kaiser report at r t t v dot ru until next time this is nice guys are saying bio.

j.p. morgan's balance sheet by one. dollars in phantom a loser a derivatives nonsense cooked up by life masters another witch doctors back there on wall street of course we're going to do it all right michael what do you o'brien thanks for being on the kaiser report wonderful to be with you and the lovely stacy and anytime you need me again i'm always available to you all right and that's going to do it for this edition of the kaiser report with me max kaiser and stacey however i want to thank my guest michael what he o'brien look him up on the web check out his work and a big banks too big dad zero six for tipping us on what he's worked if you want to send me an e-mail please do so at kaiser report at r.t. t.v. dot ru until next time this is nice guys are saying bye oh. this is not a theatrical sit. this is a real correctional facility. is there any behind bones. could transform a criminal into a budding citizen. and can reach.