Problem is many of the assets on their balance sheets are falling in value and are no longer tradable, forcing a deleveraging that has proven painful and capital intensive.
And Europe had a ballooning balance-of-payment problem with the United States.
Until America and Europe own up to the true magnitude of the problem and sort bad debt from good to get toxic liabilities off financial-industry balance sheets, no amount of talking or stimulus will mend the global downturn, he warns.
The problem will be worsened by global warming affecting the population balance of animal predators such as owls, snakes, birds and bats, animals that keep insects and rodents in check.
That suggests France is perilously perched on the cusp between being part of the solution to the eurozone's financial woes and becoming an intractable part of the problem: neurotic investors fear that the French government's balance sheet and French banks may not be strong enough to underwrite the size of bailouts that could turn out to be necessary for Italy and Spain.
The underlying problem is that banks have still not taken the full impact on their balance sheets of the American subprime mortgage crisis.
That is, the problem is deemed to be giving banks too much discretion on the asset side of the balance sheet, when the liability side is insured.
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The biggest problem, however, is that our system was set up to establish one type of balance of power, but we now have a totally different type.
Morgan Chase spokesman argues the new rule would cover only a fraction of the off-balance-sheet liabilities and therefore isn't a problem.
The French, and other nations, had suggested that the problem of USD imbalances could be solved if the US tightened its domestic budget and maintained a balance of payments surpluses.
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The inquest heard that nuts, bolts and a ratchet spanner were later found in the slurry and on the balance of probability it was believed Mr Whipps had tried to solve the valve problem.
The fundamental problem is the trade imbalance and what we can expect as an exportable service to balance against the net import of manufactured goods.
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One problem is that investors have lost confidence in bank balance sheets, making it hard to assess what the true probability of default might be.
We are going to have to work with the banks in an effective way to clean up their balance sheets so that some trust is restored within the marketplace, because right now part of the problem is that nobody really knows what's on the banks' books.
Part of the problem is that when the large banks took their share of the money, adding billions of capital and liquidity to their balance sheets, investors were encouraged and happy to buy up the large amounts of additional shares that the banks issued, providing the banks with still more capital, which they used to pay back their TARP loans.
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