The problem: Real estate loans

As the US economy continues remains anemic, blame goes around everything and everyone but seems to miss an important target; our dear banks that are holding a growing number of bad real estate loans that are getting worse as nothing is done to resolve the situation. Remember the toxic assets?

Those must have been buried under ten feet of dirt, but they're still there and are feeding a exploding reserve of foreclose properties that the banks refuse to write off as we're talking about amounts in the trillion category. While this “game of chicken” is going on, the economy takes a break or comes to screeching halt. Yet no one seems to acknowledge that reality. Most probably because both Republicans and Democrats are so deep in bed with Wall Street...