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In the news today The Federal Reserve announced that due to the continued lying by banks about asset valuations, a practice that has resulted in ABS and CMBS markets remaining locked up, they are continuing to sponsor and support accounting and control fraud, acts that should be treated as felonies and result in prison sentences: Nonetheless, the markets for asset-backed securities (ABS) backed by consumer and business loans and for commercial mortgage-backed securities (CMBS) are still impaired and seem likely to remain so for some time. To promote the flow of credit to businesses and households and to facilitate the financing of commercial properties, the Federal Reserve and Treasury approved extending TALF loans against newly issued ABS and legacy CMBS through March 31, 2010. The markets remain impaired due to the continued lying and will remain so until the lying and control fraud stops. That Congress and The Obama Administration continue permit this lying is an outrage w

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