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Thread: Obama to Propose Limits on Risks Taken by Banks

  1. #51
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    Re: Obama to Propose Limits on Risks Taken by Banks

    Quote Originally Posted by elbatrop View Post
    the whole system wouldn't have collapsed, we do have laws and methods of dealing with insolvency even on a massive scale
    If one large bank collapses, its creditors have to write off its debt. That weakens THEIR financial position, which will cause some of THEM to collapse. Then all of their creditors have to write off their debt. Rinse, repeat.

    Quote Originally Posted by elbatrop
    plus nothing has been stopped or fixed instead it has just been delayed for awhile at massive expense to the tax payer and it can still collapse quite easily,
    That's exactly why these reforms are necessary.
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  2. #52
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    Re: Obama to Propose Limits on Risks Taken by Banks

    Quote Originally Posted by Kandahar View Post
    If one large bank collapses, its creditors have to write off its debt. That weakens THEIR financial position, which will cause some of THEM to collapse. Then all of their creditors have to write off their debt. Rinse, repeat.



    That's exactly why these reforms are necessary.
    then some real reforms should occur, but first and foremost EXISTING law must be enforced and it has not been, this is part of how we got here

    Secondly to be blunt and realistic, about 6000 of our 8000 banks are insolvent based on law prior to 2007 and after 2007 about 4-5000 of them are still insolvent with the FASB rule changes and refusal of the govt to enforce existing law. No reform whatsoever will make this change, you cannot legislate the debt away, it has already occurred. You can't hide it forever either although the FED is desperately trying to.

    The end game is coming and these debts will be realized one way or another, the basic choice is at this point should the taxpayer be bankrupted to cover it so some irresposnsible banks survive? Or should the banks be forced to take their lumps and be put out of business. Keep in mind if its the former there are consequences that come with that. This isn't a hard choice to make. Do the needs of a few outweigh the needs of the many?

    Japan took the first option, 20 years later and the results speak for themselves, trust me you do not want that result.

    The control fraud must be stopped once and for all, reforms are window dressing in that regard.

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    Re: Obama to Propose Limits on Risks Taken by Banks

    Meanwhile, thanks to this, the market is down 500+ points the past three days.

    Thanks, Obama. Is there anything you can't screw up?

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    Re: Obama to Propose Limits on Risks Taken by Banks

    Quote Originally Posted by Erod View Post
    Meanwhile, thanks to this, the market is down 500+ points the past three days.

    Thanks, Obama. Is there anything you can't screw up?
    The obvious answer is……No.
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    Re: Obama to Propose Limits on Risks Taken by Banks

    Quote Originally Posted by Erod View Post
    Meanwhile, thanks to this, the market is down 500+ points the past three days.

    Thanks, Obama. Is there anything you can't screw up?
    that's minor

    if it was based on the actual fundamentals the DOW would be at like 3000 and the S&P in the toilet

    when 80% of the banks are insolvent which is a world record btw then its bad, real real bad, Obama didn't do it but he sure as hell isn't planning on fixing it either

    it's bank failure friday too, anyone wanna guess how many get killed off today? put me down for 4

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    Re: Obama to Propose Limits on Risks Taken by Banks

    an unbelievable week for poor president pieface, just in the LAST THREE DAYS

    since massachusetts:

    1. the december jobs report once more revised down, the bleeding which was declining until the Month of Consumers suddenly swiftened, most ominous projecting forward

    2. a revolt against bernanke, up for reconfirmation by jan 31, he needs 60 and he's already lost boxer and feingold (assert the senators, on record, if that's worth anything), any way you look at it---interest rates have been held ridiculously low for a long, long time, and here we are, now everyone wants to play populist

    3. the tsa nominee withdraws

    4. the penatagon's fort hood report, 86 pages, refuses to utter hasan's name nor that of his religion, whatever political correctness within the military still persists which accounts for all those purposeful oversights of unambiguous warnings, the transfers and promotions, the sweepings under rugs

    5. hig's blair and dhs' napolitano testify before lieberman's homeland security that they WERE NEVER CONSULTED about the movement of mutallab before civil venues, they WERE NOT PREPARED for the apprehension of wannabe bombers WITHIN OUR BORDERS, only without, the "not fully operational" status of hig...

    6. eric holder's belated, reluctant and mumbled admission that doj unilaterally moved mutallab

    7. the raising of the debt ceiling ONE POINT NINE TRIL, signaling the end of obamacare

    8. the president's precipitous "pivot" to populism, centered around his bank tax, from the same guy whose treas secty guaranteed all aig obligations in full and then directed the bailed out toobig to dissemble before sec, bribed nebraska and louisiana and seiu by billions, built "a monstrosity" of a health care in a locked closet and attempted to cram it down congress' and america's gagging gullet, wants to raise the debt ceiling ONE POINT NINE TRIL

    9. the president's vertiginous position on health care in the wake of scott brown's truck---yes, no, maybe, yes, no, yes, yes, maybe, yes, no---in that order---we're gonna cram it, hurry it, reconcile it, delay it, do parts of it, merge it, pass it now and fix it later...

    10. unbelievable

    11. his ruminations on the meaning of massachusetts (in ohio and in his nbc interview)---he couldn't get the word out, his mistake was believing the "people would get it" as he focused so comprehensively on "policy," his dismissal of more "popular" approaches in favor of his ambitious and exigent measures, his resolve to fight fight fight fight fight, his narcissistic and selfish focus on himself...

    12. a wide revolt against leadership on the part of party membership on all fronts, bernanke, geithner, rahm and napolitano in trouble, house dems trashing reid's bill, coakley calling out nebraska and mutallab, hillary's eager and immediate and loud declaration to tavis smiley that she would not serve a second term, pelosi not having the votes, elite opinion (pulitzer paul's "about ready to give up on obama")...

    hillary's outta here, why should she stay and sink with the rest of em when the coming shipwreck makes her the next captain?

    13. mccain-feingold overturned

    14. air america bankrupt

    15. the bank tax, centerpiece of the populist re-painting, the Financial Crisis Responsibility Fee, from which GM and Chrysler and F&F are exempt, all operations accountable to obama

    the president's "pivot" is so improvised, transparently, he's been orating a year a million words on 5 or so obamite themes and THIS wasn't one of em, he just made it up over the weekend, and he did it cuz the bankers all dissed him at his BANK SUMMIT, dec 14

    his rationale? he's gonna FORCE EM TO LEND BY TAXING EM

    LOL!

    meanwhile, banks are collapsing all across the country

    he's trying to force his fee on entities which never took tarp, others who paid it back with interest, others who were forced to take tarp

    geithner, the president's left hand man, ultimate insider and tax cheat in chief at IRS, is OPPOSED to the bossman's measure

    geithner was NOT PRESENT at the president's impromptu pronouncement of his FCRF

    77% of investors polled said they felt obama was anti business

    the dow is down 600 points in the 3 days since massachusetts, since obama made his bank tax not only #1 but the only component of domestic politics open to him

    the bank tax is going to comprise almost the entirety of obama's domestic agenda in the coming months, and he cooked it up in about 5:00 of hysterical reaction

    his appeal to populism is transparently phony

    and president obama, today, january 23, 2010, HAS NO FOREIGN POLICY AT ALL, except for his escalation of afghanistan

    16. putin tells iran to go ahead with its nuke in 2010

    17. the UN abandons its climate deadline

    18. has anything positive developed since the pilgrim state pronounced?
    Last edited by The Prof; 01-23-10 at 07:14 PM.

  7. #57
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    Re: Obama to Propose Limits on Risks Taken by Banks

    I hope this is a good way to get the economy back on track. I don't take out any loans, unless some around here are prone to doing it frequently.

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