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Thread: US Banks Told To Make Plans For Preventing Collapse - Reuters

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    US Banks Told To Make Plans For Preventing Collapse - Reuters

    This could be nothing more than filing of paperwork but it caught my eye. Considering what happened before the last presidential election I'm probalby being overly paranoid but then again. The only part that really conerns me is that Reuters had to file a FOIA request to get the information

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    Re: US Banks Told To Make Plans For Preventing Collapse - Reuters

    Quote Originally Posted by John.NoseTip View Post
    This could be nothing more than filing of paperwork but it caught my eye. Considering what happened before the last presidential election I'm probalby being overly paranoid but then again. The only part that really conerns me is that Reuters had to file a FOIA request to get the information

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    Seems we always fight the last war. Seems like a self defeating exercise as banks would have to know what area caused them to fail. If they knew that they could probably get out of the way.

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    Re: US Banks Told To Make Plans For Preventing Collapse - Reuters

    Quote Originally Posted by John.NoseTip View Post
    This could be nothing more than filing of paperwork but it caught my eye. Considering what happened before the last presidential election I'm probalby being overly paranoid but then again. The only part that really conerns me is that Reuters had to file a FOIA request to get the information

    Article
    I think large banks should be broken up because there should be no such as too big to fail.
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

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    Re: US Banks Told To Make Plans For Preventing Collapse - Reuters

    U.S. regulators directed five of the country's biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help
    The thing I would wonder about would be the role of FDIC for individual depositors. Does this mean that our deposits are no longer insured by the FDIC for up to $100,000? If not, I think we should be informed of this. There is nothing in the article that answers this question.

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    Re: US Banks Told To Make Plans For Preventing Collapse - Reuters

    One would think banks would have a plan in place to prevent collapse anyway. They would fare far better without government regulations dictating to whom they must lend money.

    So is it back to the old days that the Obama clan doesn't want, which includes more rigid lending practices like 20% down for home purchases? Or is it more of the same old "everybody deserves to live in their own home" ineffective practices the government got us into into troubled with in first place?
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    Re: US Banks Told To Make Plans For Preventing Collapse - Reuters

    Britain was telling our banks to do this years ago, and that was too late anyway, what took so long?
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    Re: US Banks Told To Make Plans For Preventing Collapse - Reuters

    Quote Originally Posted by jamesrage View Post
    I think large banks should be broken up because there should be no such as too big to fail.


    I would add that specifically investment banks should be broken off from traditional (FDIC) banks; this somewhat recent invention has totally destabilized the financial industry with simply mind boggling risk/leverage.

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    Re: US Banks Told To Make Plans For Preventing Collapse - Reuters

    Quote Originally Posted by John.NoseTip View Post
    This could be nothing more than filing of paperwork but it caught my eye. Considering what happened before the last presidential election I'm probalby being overly paranoid but then again. The only part that really conerns me is that Reuters had to file a FOIA request to get the information

    Article
    After reading the article, I see it as common sense contingency planning -- something that apparently didn't exist during the 2008 crash.

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    Re: US Banks Told To Make Plans For Preventing Collapse - Reuters

    Sure, NOW they should prepare to prevent collapse. Maybe I should start training for the 2004 Olympics NOW...

    Why would they prepare? They've got a great racket going. Do whatever they want, beg for a bailout when it all goes wrong. Doesn't matter which party is in power, they'll get their bailout.


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    Re: US Banks Told To Make Plans For Preventing Collapse - Reuters

    Quote Originally Posted by Karl View Post
    After reading the article, I see it as common sense contingency planning -- something that apparently didn't exist during the 2008 crash.
    I really hope your are right but when I see things like the item below and the libor issues I don't feel confident that the system isn't still sitting on a house of cards


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