Bankruptcies rising. Fed answer? More debt.

[pknopp]

So the news out today is that bankruptcies are on the rise. Debt is getting out of control once again.

https://nypost.com/2019/08/11/bankruptcy-filings-rising-across-the-country-and-it-could-get-worse/

Then we read that the Fed is considering that the solution to debt getting out of control is loosening banks ability to create more debt.

Now, some Fed officials are debating whether it is time to use the tool, which could provide banks with additional lending firepower in a subsequent downturn. It isn’t clear when they might make a decision.

Fed Considers New Tool for a Downturn

I think the real answer is to teach people to not borrow money. Why do you keep looking to government to solve these problems?

Me?

If a person borrows money until they are bankrupt, there is nothing the Fed can do to change that. That person needs to stop spending more money than they make. That is the only solution.

The Fed is arguing to make it easier for them to do that.

Well of course.

If people are denied a loan, they scream at government, and the Feds get their money and power from government. Don't piss off the person that signs your check.

At the same time, are you shocked that people who live their lives in banking.... want to make it easier to borrow?

No, I'm shocked we would let them. They also only want to make it easier because they believe with justification that when things go bad the taxpayers will be forced to step in again.

If there was a Department of Federal Auto, and they said "we want to make it easier to sell autos"... there's a shocker.

A bunch of bankers want to make it easier for people to give their money to banks. Crazy!

What they want is not the issue.

 

[pknopp]

Lefties NEVER consider even the most likely results of the economic policies they promote because they don't understand economics.

Truer words were never spoken.

pk is concerned his portfolio will be adversely affected by a crash.

I'm concerned that the taxpayers will be responsible for bailing out Wall Street again.

Too Big To Fail...

Unfortunately. Another example where Obama failed.

The banks and Wall Street were bailed out by the bush boy. Without any rules or conditions on that money they were given.

Obama was elected. He bailed out the car companies and put rules or conditions on the bailout for the banks and Wall Street.

No, he made things even worse. He made "Too Big To Fail" institutionalized with Dodd/Frank. He made the bankers feel secure that no matter what they do, they will get away with it when he failed to prosecute even one (unlike the promises he made).

Ben Bernanke failed in epic proportions and then Obama renominated him. How does one do that?

 

[Andylusion]

So the news out today is that bankruptcies are on the rise. Debt is getting out of control once again.

https://nypost.com/2019/08/11/bankruptcy-filings-rising-across-the-country-and-it-could-get-worse/

Then we read that the Fed is considering that the solution to debt getting out of control is loosening banks ability to create more debt.

Now, some Fed officials are debating whether it is time to use the tool, which could provide banks with additional lending firepower in a subsequent downturn. It isn’t clear when they might make a decision.

Fed Considers New Tool for a Downturn

I think the real answer is to teach people to not borrow money. Why do you keep looking to government to solve these problems?

Me?

If a person borrows money until they are bankrupt, there is nothing the Fed can do to change that. That person needs to stop spending more money than they make. That is the only solution.

The Fed is arguing to make it easier for them to do that.

Well of course.

If people are denied a loan, they scream at government, and the Feds get their money and power from government. Don't piss off the person that signs your check.

At the same time, are you shocked that people who live their lives in banking.... want to make it easier to borrow?

No, I'm shocked we would let them. They also only want to make it easier because they believe with justification that when things go bad the taxpayers will be forced to step in again.

If there was a Department of Federal Auto, and they said "we want to make it easier to sell autos"... there's a shocker.

A bunch of bankers want to make it easier for people to give their money to banks. Crazy!

What they want is not the issue.

Depends on what you mean by forced. If you mean that politicians believing they are saving the economy will give away tax money... yes. If you mean that without that, the economy will implode, then no.

There is no evidence at all, that government saved the economy in 2008. There is tons of evidence that we gave away tons of money to bankers, without purpose or value.

Again... we don't have to let them. Stop borrowing money. I don't borrow money.

 

[Andylusion]

pk is concerned his portfolio will be adversely affected by a crash.

I'm concerned that the taxpayers will be responsible for bailing out Wall Street again.

Too Big To Fail...

Unfortunately. Another example where Obama failed.

The banks and Wall Street were bailed out by the bush boy. Without any rules or conditions on that money they were given.

Obama was elected. He bailed out the car companies and put rules or conditions on the bailout for the banks and Wall Street.

No, he made things even worse. He made "Too Big To Fail" institutionalized with Dodd/Frank. He made the bankers feel secure that no matter what they do, they will get away with it when he failed to prosecute even one (unlike the promises he made).

Ben Bernanke failed in epic proportions and then Obama renominated him. How does one do that?

You can't prosecute people who did nothing wrong. Those that did something wrong, were prosecuted.

 

[pknopp]

So the news out today is that bankruptcies are on the rise. Debt is getting out of control once again.

https://nypost.com/2019/08/11/bankruptcy-filings-rising-across-the-country-and-it-could-get-worse/

Then we read that the Fed is considering that the solution to debt getting out of control is loosening banks ability to create more debt.

Now, some Fed officials are debating whether it is time to use the tool, which could provide banks with additional lending firepower in a subsequent downturn. It isn’t clear when they might make a decision.

Fed Considers New Tool for a Downturn

I think the real answer is to teach people to not borrow money. Why do you keep looking to government to solve these problems?

Me?

If a person borrows money until they are bankrupt, there is nothing the Fed can do to change that. That person needs to stop spending more money than they make. That is the only solution.

The Fed is arguing to make it easier for them to do that.

Well of course.

If people are denied a loan, they scream at government, and the Feds get their money and power from government. Don't piss off the person that signs your check.

At the same time, are you shocked that people who live their lives in banking.... want to make it easier to borrow?

No, I'm shocked we would let them. They also only want to make it easier because they believe with justification that when things go bad the taxpayers will be forced to step in again.

If there was a Department of Federal Auto, and they said "we want to make it easier to sell autos"... there's a shocker.

A bunch of bankers want to make it easier for people to give their money to banks. Crazy!

What they want is not the issue.

Depends on what you mean by forced. If you mean that politicians believing they are saving the economy will give away tax money... yes. If you mean that without that, the economy will implode, then no.

There is no evidence at all, that government saved the economy in 2008. There is tons of evidence that we gave away tons of money to bankers, without purpose or value.

I completely agree about the above. It goes right along with the rest of my argument here. We were lied to. No, the economy was not going to implode.

Now, some Fed officials are debating whether it is time to use the tool, which could provide banks with additional lending firepower in a subsequent downturn.

There is nothing wrong with borrowing in a responsible manner. I don't owe anyone a penny right now but I'm getting ready to retire. I borrowed in the past.

 

[pknopp]

I'm concerned that the taxpayers will be responsible for bailing out Wall Street again.

Too Big To Fail...

Unfortunately. Another example where Obama failed.

The banks and Wall Street were bailed out by the bush boy. Without any rules or conditions on that money they were given.

Obama was elected. He bailed out the car companies and put rules or conditions on the bailout for the banks and Wall Street.

No, he made things even worse. He made "Too Big To Fail" institutionalized with Dodd/Frank. He made the bankers feel secure that no matter what they do, they will get away with it when he failed to prosecute even one (unlike the promises he made).

Ben Bernanke failed in epic proportions and then Obama renominated him. How does one do that?

You can't prosecute people who did nothing wrong. Those that did something wrong, were prosecuted.

Nobody was prosecuted. Angelo Mozilo had people standing in line wanting to testify about his fraudulent actions. They never got the chance.

Countrywide protected fraudsters by silencing whistleblowers, say former employees

Lloyd Blankfein was permitted to perjure himself.

Goldman Sachs Stock Drops After CEO Hires Defense Attorney

Timmy Geithner said that indeed people had committed offenses but that charging them would be bad for the economy.
Timmy should have been tarred and feathered.

 

[Dana7360]

pk is concerned his portfolio will be adversely affected by a crash.

I'm concerned that the taxpayers will be responsible for bailing out Wall Street again.

Too Big To Fail...

Unfortunately. Another example where Obama failed.

The banks and Wall Street were bailed out by the bush boy. Without any rules or conditions on that money they were given.

Obama was elected. He bailed out the car companies and put rules or conditions on the bailout for the banks and Wall Street.

No, he made things even worse. He made "Too Big To Fail" institutionalized with Dodd/Frank. He made the bankers feel secure that no matter what they do, they will get away with it when he failed to prosecute even one (unlike the promises he made).

Ben Bernanke failed in epic proportions and then Obama renominated him. How does one do that?

I just stated what he did.

You believe it made things worse. In some ways it did. In other ways things got better.

A lot of Frank/Dodd has been repealed. Including not bailing big business and banks out.

Yes I agree by not prosecuting people he just basically told them that they can do whatever they want and there will be no real consequences. Obama was very wrong to do that.

There is a very good solution to this problem. High taxes on high wages, salaries and unearned income. Not expecting to collect the revenue from high taxes but expecting greed to be put in check so that greed can't collapse the economy again. When a greedy person knows that the majority of their wages and salary will go to the government, those greedy people don't take high salaries and wages from companies. When greedy investors see the majority of their unearned income go to the government, they will stop pressuring companies to generate high rates of revenue. When the CEO and executives pay isn't in stock and dependent on stock prices we will see a much stable stock market and much stable companies. Companies will also not have to go looking throughout the world for the cheapest labor too.

We need to bring back the rules that were established after the last republican Great Depression. Those rules and regulations prevented all this from happening. It was in the 80s, 90s and after that those rules were repealed. We have to live with the consequences of it too.

Until people honestly want to return to responsible economics, we will continue to have the bubbles and bursts we've been having since the 80s. When people honestly want to put proper rules and regulations on business we will stop having these great recessions and depressions.

Until then, we will keep going through this.

 

[deanrd]

Chapter 12 bankruptcy filings in 19 states were higher than prior-year levels. In these states there were 303 bankruptcy filings, up from 204 filings the year before. In the Midwest, for example, bankruptcies totaled 223 filings and were up 19 percent from prior-year levels. Bankruptcies in the Midwest were also double what they were in 2008 and at the highest level in more than a decade.

Farm Bankruptcies in 2018 – The Truth is Out There

It was farmers that put Trump over the top.

But I wouldn’t worry about it. I’m sure Trump is doing everything he can to help these farmers.

Midwest farm bankruptcies on the rise, with Wisconsin leading the way

Thank God for the Trump tax cuts for billionaires. I think those really helped us out, don’t you?

 

[pknopp]

I'm concerned that the taxpayers will be responsible for bailing out Wall Street again.

Too Big To Fail...

Unfortunately. Another example where Obama failed.

The banks and Wall Street were bailed out by the bush boy. Without any rules or conditions on that money they were given.

Obama was elected. He bailed out the car companies and put rules or conditions on the bailout for the banks and Wall Street.

No, he made things even worse. He made "Too Big To Fail" institutionalized with Dodd/Frank. He made the bankers feel secure that no matter what they do, they will get away with it when he failed to prosecute even one (unlike the promises he made).

Ben Bernanke failed in epic proportions and then Obama renominated him. How does one do that?

I just stated what he did.

You believe it made things worse. In some ways it did. In other ways things got better.

A lot of Frank/Dodd has been repealed. Including not bailing big business and banks out.

No true. I'll not continue until you post something that backs this up.

 

[Dana7360]

pk is concerned his portfolio will be adversely affected by a crash.

I'm concerned that the taxpayers will be responsible for bailing out Wall Street again.

Too Big To Fail...

Unfortunately. Another example where Obama failed.

The banks and Wall Street were bailed out by the bush boy. Without any rules or conditions on that money they were given.

Obama was elected. He bailed out the car companies and put rules or conditions on the bailout for the banks and Wall Street.

No, he made things even worse. He made "Too Big To Fail" institutionalized with Dodd/Frank. He made the bankers feel secure that no matter what they do, they will get away with it when he failed to prosecute even one (unlike the promises he made).

Ben Bernanke failed in epic proportions and then Obama renominated him. How does one do that?

One more thing that would help a lot is to restart enforcing our Anti Trust Laws.

If a business is too big to fail, it's too big period and should be broken up.

 

[AzogtheDefiler]

So the news out today is that bankruptcies are on the rise. Debt is getting out of control once again.

https://nypost.com/2019/08/11/bankruptcy-filings-rising-across-the-country-and-it-could-get-worse/

Then we read that the Fed is considering that the solution to debt getting out of control is loosening banks ability to create more debt.

Now, some Fed officials are debating whether it is time to use the tool, which could provide banks with additional lending firepower in a subsequent downturn. It isn’t clear when they might make a decision.

Fed Considers New Tool for a Downturn

Banks don’t hold guns to people’s heads. It’s their choice whether to borrow or not.

Banks do demand that taxpayers bail them out when those loans go bad.

No they do not. And they paid back all of TARP plus interest

 

[Dana7360]

Too Big To Fail...

Unfortunately. Another example where Obama failed.

The banks and Wall Street were bailed out by the bush boy. Without any rules or conditions on that money they were given.

Obama was elected. He bailed out the car companies and put rules or conditions on the bailout for the banks and Wall Street.

No, he made things even worse. He made "Too Big To Fail" institutionalized with Dodd/Frank. He made the bankers feel secure that no matter what they do, they will get away with it when he failed to prosecute even one (unlike the promises he made).

Ben Bernanke failed in epic proportions and then Obama renominated him. How does one do that?

I just stated what he did.

You believe it made things worse. In some ways it did. In other ways things got better.

A lot of Frank/Dodd has been repealed. Including not bailing big business and banks out.

No true. I'll not continue until you post something that backs this up.

Here you go:

Trump signs the biggest rollback of bank rules since the financial crisis

All but the largest banks are affected by this. The largest banks still have to follow Frank/Dodd.

 

[pknopp]

So the news out today is that bankruptcies are on the rise. Debt is getting out of control once again.

https://nypost.com/2019/08/11/bankruptcy-filings-rising-across-the-country-and-it-could-get-worse/

Then we read that the Fed is considering that the solution to debt getting out of control is loosening banks ability to create more debt.

Now, some Fed officials are debating whether it is time to use the tool, which could provide banks with additional lending firepower in a subsequent downturn. It isn’t clear when they might make a decision.

Fed Considers New Tool for a Downturn

Banks don’t hold guns to people’s heads. It’s their choice whether to borrow or not.

Banks do demand that taxpayers bail them out when those loans go bad.

No they do not. And they paid back all of TARP plus interest

Nope. Verification posted.

 

[AzogtheDefiler]

So the news out today is that bankruptcies are on the rise. Debt is getting out of control once again.

https://nypost.com/2019/08/11/bankruptcy-filings-rising-across-the-country-and-it-could-get-worse/

Then we read that the Fed is considering that the solution to debt getting out of control is loosening banks ability to create more debt.

Now, some Fed officials are debating whether it is time to use the tool, which could provide banks with additional lending firepower in a subsequent downturn. It isn’t clear when they might make a decision.

Fed Considers New Tool for a Downturn

Banks don’t hold guns to people’s heads. It’s their choice whether to borrow or not.

Banks do demand that taxpayers bail them out when those loans go bad.

No they do not. And they paid back all of TARP plus interest

Nope. Verification posted.

Bank of America didn’t pay back TARP? LOL

 

[pknopp]

Unfortunately. Another example where Obama failed.

The banks and Wall Street were bailed out by the bush boy. Without any rules or conditions on that money they were given.

Obama was elected. He bailed out the car companies and put rules or conditions on the bailout for the banks and Wall Street.

No, he made things even worse. He made "Too Big To Fail" institutionalized with Dodd/Frank. He made the bankers feel secure that no matter what they do, they will get away with it when he failed to prosecute even one (unlike the promises he made).

Ben Bernanke failed in epic proportions and then Obama renominated him. How does one do that?

I just stated what he did.

You believe it made things worse. In some ways it did. In other ways things got better.

A lot of Frank/Dodd has been repealed. Including not bailing big business and banks out.

No true. I'll not continue until you post something that backs this up.

Here you go:

Trump signs the biggest rollback of bank rules since the financial crisis

All but the largest banks are affected by this. The largest banks still have to follow Frank/Dodd.

That does nothing about institutionalizing Too Big to Fail.

The damage had already been done. A large portion of smaller banks had already been gobbled up by the bigger banks. Nothing was done to simply allow banks to fail if they fail.

 

[pknopp]

So the news out today is that bankruptcies are on the rise. Debt is getting out of control once again.

https://nypost.com/2019/08/11/bankruptcy-filings-rising-across-the-country-and-it-could-get-worse/

Then we read that the Fed is considering that the solution to debt getting out of control is loosening banks ability to create more debt.

Now, some Fed officials are debating whether it is time to use the tool, which could provide banks with additional lending firepower in a subsequent downturn. It isn’t clear when they might make a decision.

Fed Considers New Tool for a Downturn

Banks don’t hold guns to people’s heads. It’s their choice whether to borrow or not.

Banks do demand that taxpayers bail them out when those loans go bad.

No they do not. And they paid back all of TARP plus interest

Nope. Verification posted.

Bank of America didn’t pay back TARP? LOL

Not the argument. If you want to take the time to read the thread and my argument and then reply, great.

If have no need to reply to something that wasn't even my argument.

But since you brought them up.

Matt Taibbi on Bank of America: Too Crooked to Fail

 

[AzogtheDefiler]

Banks don’t hold guns to people’s heads. It’s their choice whether to borrow or not.

Banks do demand that taxpayers bail them out when those loans go bad.

No they do not. And they paid back all of TARP plus interest

Nope. Verification posted.

Bank of America didn’t pay back TARP? LOL

Not the argument. If you want to take the time to read the thread and my argument and then reply, great.

If have no need to reply to something that wasn't even my argument.

Again the banks aren’t forcing companies or persons to take out loans. Those decisions are up to the borrowers. Do you agree or disagree?

 

[pknopp]

Banks do demand that taxpayers bail them out when those loans go bad.

No they do not. And they paid back all of TARP plus interest

Nope. Verification posted.

Bank of America didn’t pay back TARP? LOL

Not the argument. If you want to take the time to read the thread and my argument and then reply, great.

If have no need to reply to something that wasn't even my argument.

Again the banks aren’t forcing companies or persons to take out loans. Those decisions are up to the borrowers. Do you agree or disagree?

I never disagreed. I believe that the banks gave them the loans and only the bank and the borrower should be responsible if they go bad.

 

[AzogtheDefiler]

No they do not. And they paid back all of TARP plus interest

Nope. Verification posted.

Bank of America didn’t pay back TARP? LOL

Not the argument. If you want to take the time to read the thread and my argument and then reply, great.

If have no need to reply to something that wasn't even my argument.

Again the banks aren’t forcing companies or persons to take out loans. Those decisions are up to the borrowers. Do you agree or disagree?

I never disagreed. I believe that the banks gave them the loans and only the bank and the borrower should be responsible if they go bad.

I agree.
Most of the banks didn’t want TARP the Govt forced them to take the capital. I think we need to treat banks and borrowers as adults.

 

[AzogtheDefiler]

Unfortunately. Another example where Obama failed.

The banks and Wall Street were bailed out by the bush boy. Without any rules or conditions on that money they were given.

Obama was elected. He bailed out the car companies and put rules or conditions on the bailout for the banks and Wall Street.

No, he made things even worse. He made "Too Big To Fail" institutionalized with Dodd/Frank. He made the bankers feel secure that no matter what they do, they will get away with it when he failed to prosecute even one (unlike the promises he made).

Ben Bernanke failed in epic proportions and then Obama renominated him. How does one do that?

I just stated what he did.

You believe it made things worse. In some ways it did. In other ways things got better.

A lot of Frank/Dodd has been repealed. Including not bailing big business and banks out.

No true. I'll not continue until you post something that backs this up.

Here you go:

Trump signs the biggest rollback of bank rules since the financial crisis

All but the largest banks are affected by this. The largest banks still have to follow Frank/Dodd.

This actually helps borrowers