Hernando de Soto (der mal einen Schäferhund namens Karl Marx hatte, weil der Hund deutsch war und keine Eigentumsrechte respektierte...) argumentiert in einem langen Essay bei Businessweek, daß die Zerstörung gesicherter ökonomischer Fakten ursächlich zur jüngsten "Finanzkrise" beigetragen habe und daß auch die ganzen angeblichen "Reformen" nichts daran geändert haben. Der amerikanische Immobilienmarkt ist dabei das vielleicht auch für Laien am besten nachvollziehbare Beispiel:
"Banks that have tried to foreclose on nonperforming mortgages have discovered that in many cases they can't collect the debts. Why? Because some companies that pooled, packaged, and converted those mortgages into liquid securities had dispensed with the usual procedures to record mortgage owners and passed the property to a shell company called MERS, which pretended to own the mortgages. The intent was to streamline what many real estate experts recognize are outdated, disaggregated, and cumbersome processes. The result, however, is that today, says professor Christopher L. Peterson of the University of Utah, "about 60 percent of the U.S.'s residential mortgages are now recorded in the name of MERS rather than the bank, trust, or company that actually has a meaningful economic interest in the repayment of the debt. For the first time in the nation's history, there is no longer an authoritative, public record of who owns land in each county."
Über MERS hatten wir im September 2009 geschrieben:
http://bavaria-for-ron-paul.blogspot.com/2009/09/bringt-mers-us-banken-in-die-bredouille.html
Ein weiteres Beispiel ist die Veränderung der Buchhaltungsregeln von "mark to market" zu (Achtung Orwellsprech) "fair value accounting" (vielleicht sollte man das mit "sozial-gerechter Bankenbuchhaltung" übersetzen):
"When the recession sent the prices of financial holdings spiraling downward, some banks and financiers were exempted from the U.S.'s long-established "mark-to-market" accounting standards, which force firms to report the value of their assets at current market prices. It's reasonable to establish value other than through market prices, according to proponents, if the market is unusually depressed. But such a privilege creates the ability to destroy facts by hiding losses, increasing the price of assets to levels at which no one will buy. In the U.S., the Financial Accounting Standards Board and the Securities and Exchange Commission are reviewing accounting rules, while Congress has been holding hearings on the subject. Meantime, businesses are left to figure out reality on the basis of connections, influence, and private information. Just like we do in developing and former communist countries."
Offensichtlich sind "die Märkte" immernoch "unusually depressed", auch wenn die Big-Bank-Profiteure vor lauter Boni sicher alles andere als deprimiert sind.
Zum Timing der Änderung kann man sich diesen Artikel, ebenfalls aus 2009, ins Gedächtnis rufen (auch um einen Eindruck zu bekommen, was De Soto mit "connections, influence, and private information" meinen könnte):
http://bavaria-for-ron-paul.blogspot.com/2009/12/die-aktienrallye-ben-bernanke-und-der.html
"Banks that have tried to foreclose on nonperforming mortgages have discovered that in many cases they can't collect the debts. Why? Because some companies that pooled, packaged, and converted those mortgages into liquid securities had dispensed with the usual procedures to record mortgage owners and passed the property to a shell company called MERS, which pretended to own the mortgages. The intent was to streamline what many real estate experts recognize are outdated, disaggregated, and cumbersome processes. The result, however, is that today, says professor Christopher L. Peterson of the University of Utah, "about 60 percent of the U.S.'s residential mortgages are now recorded in the name of MERS rather than the bank, trust, or company that actually has a meaningful economic interest in the repayment of the debt. For the first time in the nation's history, there is no longer an authoritative, public record of who owns land in each county."
Über MERS hatten wir im September 2009 geschrieben:
http://bavaria-for-ron-paul.blogspot.com/2009/09/bringt-mers-us-banken-in-die-bredouille.html
Ein weiteres Beispiel ist die Veränderung der Buchhaltungsregeln von "mark to market" zu (Achtung Orwellsprech) "fair value accounting" (vielleicht sollte man das mit "sozial-gerechter Bankenbuchhaltung" übersetzen):
"When the recession sent the prices of financial holdings spiraling downward, some banks and financiers were exempted from the U.S.'s long-established "mark-to-market" accounting standards, which force firms to report the value of their assets at current market prices. It's reasonable to establish value other than through market prices, according to proponents, if the market is unusually depressed. But such a privilege creates the ability to destroy facts by hiding losses, increasing the price of assets to levels at which no one will buy. In the U.S., the Financial Accounting Standards Board and the Securities and Exchange Commission are reviewing accounting rules, while Congress has been holding hearings on the subject. Meantime, businesses are left to figure out reality on the basis of connections, influence, and private information. Just like we do in developing and former communist countries."
Offensichtlich sind "die Märkte" immernoch "unusually depressed", auch wenn die Big-Bank-Profiteure vor lauter Boni sicher alles andere als deprimiert sind.
Zum Timing der Änderung kann man sich diesen Artikel, ebenfalls aus 2009, ins Gedächtnis rufen (auch um einen Eindruck zu bekommen, was De Soto mit "connections, influence, and private information" meinen könnte):
http://bavaria-for-ron-paul.blogspot.com/2009/12/die-aktienrallye-ben-bernanke-und-der.html
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