Writes Bob Higgs: My source is Bloomberg. Requiring the Fed to disclose loan recipients might set off panic, said David Tobin, principal of New York-based loan-sale consultants and investment bank Mission Capital Advisors LLC. “If you mark to market today, the banking system is bankrupt,” Tobin said. “So what do you do? You try to keep it going as best you can.” I believe he said “the banking system is bankrupt.” That seems like an honest statement. And then he said “you try to keep it going.” Pretty cool, eh. Zombie banking system. Keep it going.Some of the bailout assistance … Continue reading The Truth Seeps Out