Bulldozing of Assets!!

Click the link to see the article from the Telegraph.



This is INSANE! The asset that is the other side of the loan is GONE!



Book value = ZERO!! (per rules of the Universe)


How in the HELL are banks NOT going to post this as a loss. This is worse than a foreclosure; this is complete DESTRUCTION of the underlying asset of the loan the bank issued!


wow...that's all I got...wow


-- Lache, The Feral Capitalist