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Bankruptcies rising. Fed answer? More debt.
- Thread starter pknopp
- Start date
Toddsterpatriot
Diamond Member
Democrats didn't start the mess.
Clinton didn't tell HUD to mandate Fannie and Freddie make half their mortgage buys subprime mortgages?
Quid Pro Quo. The government loosened regulations and the banks made the loans.
The repeal of Glass/Stegal never should have happened.Glass-Steagall didn't prevent banks from writing, or buying, crappy mortgages.
It would have kept the banks from putting money that did not belong to them at risk,
The government loosened regulations and the banks made the loans.
I agree, pushing loans to less creditworthy borrowers wasn't something the government should have done.
It would have kept the banks from putting money that did not belong to them at risk,
Glass-Steagall would have prevented banks from writing mortgages? Are you sure?
If you refuse to honestly discuss what I say, we are done.
Every loan a bank makes is "putting money that did not belong to them at risk"
Do you honestly not understand how banks operate?
Loaning wasn't the issue. "Investing it was". I believe you know this but you feel this intense need to deflect.
When a bank writes a mortgage, is it investing?
Toddsterpatriot
Diamond Member
Capitalism fails when there is a smash? LOL!
People are afraid to lend during a panic.....true story.
That's not a failure of capitalism, that's human nature.
Human nature isn't a problem under other economic systems, eh?
People are not afraid to lend. People are afraid to borrow.
Talking about institutions. Why would a firm be afraid to borrow?
Banks are afraid to lend because they're afraid the borrower will go under.
That's what happened to Lehman. They financed their bond portfolio with overnight loans.
Banks were afraid they'd collapse, so they stopped rolling over their loans. They collapsed.
No one knew who'd be next.
Lender of last resort, because during a panic, firms need to stay liquid.
Lehman was a bad risk and shouldn't have been loaned to. That should have been common sense. That is not making the argument that banks wouldn't loan.
Lehman was a bad risk and shouldn't have been loaned to.
Banks lent to Lehman every day.....until they feared it would collapse.
That is not making the argument that banks wouldn't loan.
After Lehman failed, banks were afraid to lend to anyone. It was in all the papers.
Two days after the failure of Lehman Brothers in September 2008, a money market mutual fund (MMMF) that held Lehman commercial paper “broke the buck”―that is, it announced that it would be unable to continue to redeem its shares at the usual $1 per share price. Many MMMFs experienced significant withdrawals of funds by investors and were forced to meet the demand for withdrawals by selling assets into illiquid markets. In response, the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF) was introduced to finance purchases of commercial paper that MMMFs wanted to sell. Under the program, the Federal Reserve provided nonrecourse loans to US depository institutions, US bank holding companies (including their broker-dealer subsidiaries), and US branches and agencies of foreign banks. These institutions used the funding to purchase eligible asset-backed commercial paper (ABCP) from MMMFs. Borrowers under the AMLF, therefore, served as conduits in providing liquidity to MMMFs, and the MMMFs were the primary beneficiaries of the AMLF. The facility was announced on September 19, 2008, and was closed on February 1, 2010. At its peak, there was $152 billion in AMLF loans outstanding.
Federal Reserve Credit Programs During the Meltdown | Federal Reserve History
Money market mutual funds, foreign banks, pretty much everybody needed dollars to stay liquid.
Short term commercial paper market pretty much disappeared.
Everyone wanted cash.
In a situation like that, the Fed needs to lend to stem the panic.
LOL, let's let the Federal Reserve write it's own history.
Yeah, the banking system freezing up....fiction written by the Fed.
DURR
pknopp
Diamond Member
- Jul 22, 2019
- 72,060
- 28,020
- 2,210
- Thread starter
- #164
Quid Pro Quo. The government loosened regulations and the banks made the loans.
It would have kept the banks from putting money that did not belong to them at risk,
The government loosened regulations and the banks made the loans.
I agree, pushing loans to less creditworthy borrowers wasn't something the government should have done.
It would have kept the banks from putting money that did not belong to them at risk,
Glass-Steagall would have prevented banks from writing mortgages? Are you sure?
If you refuse to honestly discuss what I say, we are done.
Every loan a bank makes is "putting money that did not belong to them at risk"
Do you honestly not understand how banks operate?
Loaning wasn't the issue. "Investing it was". I believe you know this but you feel this intense need to deflect.
When a bank writes a mortgage, is it investing?
No. You know what I'm saying.
Toddsterpatriot
Diamond Member
The government loosened regulations and the banks made the loans.
I agree, pushing loans to less creditworthy borrowers wasn't something the government should have done.
It would have kept the banks from putting money that did not belong to them at risk,
Glass-Steagall would have prevented banks from writing mortgages? Are you sure?
If you refuse to honestly discuss what I say, we are done.
Every loan a bank makes is "putting money that did not belong to them at risk"
Do you honestly not understand how banks operate?
Loaning wasn't the issue. "Investing it was". I believe you know this but you feel this intense need to deflect.
When a bank writes a mortgage, is it investing?
No. You know what I'm saying.
Yes, your confusion is clear.
Most small banks had long ago been taken over by the big banks only making "Too Big To Fail" and even larger problem
The Story Behind ‘The Creature From Jekyll Island,’ the Anti-Fed Conspiracy Theory Bible
In the end Dodd/Frank made the problem worse rather than fix the problem. That's the point.
Both were the 'foxes' rescinding Glass Steagall in the Clinton era
Why do you think the Treasury directly injected capital into all the major banks via preferred share acquisition during the last recession if not to encourage them to lend it out and unfreeze the credit markets
The FED literally IS the banking contingent
Banks have no obligation to make people more fiscally responsible
But people could make the banks more responsible
Bankruptcies on the rise in the Kenyans economy?
This is Obama’s economy...right?
The model was after this man>
John Maynard Keynes - Wikipedia
after WW2, when we were fat/happy, it was EASY to have a 'spend like a drunk sailor' policy....
No, not at all. Shouldn't this be where I point out that Capitalism is the best plan? Do you disagree? Or is Capitalism the greatest economic system except when it isn't?
It is, except when the top dogs own Congress, and write the rules for themselves
~S~
Toddsterpatriot
Diamond Member
Most small banks had long ago been taken over by the big banks only making "Too Big To Fail" and even larger problem
The Story Behind ‘The Creature From Jekyll Island,’ the Anti-Fed Conspiracy Theory Bible
In the end Dodd/Frank made the problem worse rather than fix the problem. That's the point.
Both were the 'foxes' rescinding Glass Steagall in the Clinton era
Why do you think the Treasury directly injected capital into all the major banks via preferred share acquisition during the last recession if not to encourage them to lend it out and unfreeze the credit markets
The FED literally IS the banking contingent
Banks have no obligation to make people more fiscally responsible
But people could make the banks more responsible
Bankruptcies on the rise in the Kenyans economy?
This is Obama’s economy...right?
The model was after this man>
John Maynard Keynes - Wikipedia
after WW2, when we were fat/happy, it was EASY to have a 'spend like a drunk sailor' policy....
No, not at all. Shouldn't this be where I point out that Capitalism is the best plan? Do you disagree? Or is Capitalism the greatest economic system except when it isn't?
It is, except when the top dogs own Congress, and write the rules for themselves
~S~
The Story Behind ‘The Creature From Jekyll Island,’ the Anti-Fed Conspiracy Theory Bible
Tried to read that book. So many stupid errors, I just couldn't justify wasting more time.
Most small banks had long ago been taken over by the big banks only making "Too Big To Fail" and even larger problem
The Story Behind ‘The Creature From Jekyll Island,’ the Anti-Fed Conspiracy Theory Bible
In the end Dodd/Frank made the problem worse rather than fix the problem. That's the point.
Both were the 'foxes' rescinding Glass Steagall in the Clinton era
Why do you think the Treasury directly injected capital into all the major banks via preferred share acquisition during the last recession if not to encourage them to lend it out and unfreeze the credit markets
The FED literally IS the banking contingent
Banks have no obligation to make people more fiscally responsible
But people could make the banks more responsible
Bankruptcies on the rise in the Kenyans economy?
This is Obama’s economy...right?
The model was after this man>
John Maynard Keynes - Wikipedia
after WW2, when we were fat/happy, it was EASY to have a 'spend like a drunk sailor' policy....
No, not at all. Shouldn't this be where I point out that Capitalism is the best plan? Do you disagree? Or is Capitalism the greatest economic system except when it isn't?
It is, except when the top dogs own Congress, and write the rules for themselves
~S~
The Story Behind ‘The Creature From Jekyll Island,’ the Anti-Fed Conspiracy Theory Bible
Tried to read that book. So many stupid errors, I just couldn't justify wasting more time.
Cliffs notes then Todd
He who has the gold makes the rules
~S~
Blues Man
Diamond Member
- Aug 28, 2016
- 35,513
- 14,901
- 1,530
Most small banks had long ago been taken over by the big banks only making "Too Big To Fail" and even larger problem
The Story Behind ‘The Creature From Jekyll Island,’ the Anti-Fed Conspiracy Theory Bible
In the end Dodd/Frank made the problem worse rather than fix the problem. That's the point.
Both were the 'foxes' rescinding Glass Steagall in the Clinton era
Why do you think the Treasury directly injected capital into all the major banks via preferred share acquisition during the last recession if not to encourage them to lend it out and unfreeze the credit markets
The FED literally IS the banking contingent
Banks have no obligation to make people more fiscally responsible
But people could make the banks more responsible
Bankruptcies on the rise in the Kenyans economy?
This is Obama’s economy...right?
The model was after this man>
John Maynard Keynes - Wikipedia
after WW2, when we were fat/happy, it was EASY to have a 'spend like a drunk sailor' policy....
No, not at all. Shouldn't this be where I point out that Capitalism is the best plan? Do you disagree? Or is Capitalism the greatest economic system except when it isn't?
It is, except when the top dogs own Congress, and write the rules for themselves
~S~
More responsible for what exactly?
Any bank is regulated very heavily as to what they can and can't do. One of the biggest reasons banks needed a bail out was that Clinton signed the Glass Steagle bill that removed the historically sharp divisions between banks, insurance companies and investment firms
More responsible for what exactly?
understanding the system, why it's cyclical ,and who wins/looses because of it bluesdude...
Any bank is regulated very heavily as to what they can and can't do. One of the biggest reasons banks needed a bail out was that Clinton signed the Glass Steagle bill that removed the historically sharp divisions between banks, insurance companies and investment firms
G/S was legislated a few years after the '29 crash, essentially protecting the public from risky banking investments.
Having one's mortgage, retirement, annuities subject to high risk machinations such as derivative markets means our (John Q Public's) entire existence is along for the ride
Having the Gub'Mit ,and by proxy our tax $$$'s , available to them when they crash creates a risk free environ for THEM , at OUR expense
~S~[/QUOTE]
Blues Man
Diamond Member
- Aug 28, 2016
- 35,513
- 14,901
- 1,530
[/QUOTE]More responsible for what exactly?
understanding the system, why it's cyclical ,and who wins/looses because of it bluesdude...
Any bank is regulated very heavily as to what they can and can't do. One of the biggest reasons banks needed a bail out was that Clinton signed the Glass Steagle bill that removed the historically sharp divisions between banks, insurance companies and investment firms
G/S was legislated a few years after the '29 crash, essentially protecting the public from risky banking investments.
Having one's mortgage, retirement, annuities subject to high risk machinations such as derivative markets means our (John Q Public's) entire existence is along for the ride
Having the Gub'Mit ,and by proxy our tax $$$'s , available to them when they crash creates a risk free environ for THEM , at OUR expense
~S~
Like I said the deregulation of banks, insurance and investment companies allowed to big to fail to happen
People like to blame the banks for the real estate bubble but they should be blaming Clinton
People like to blame the banks for the real estate bubble but they should be blaming Clinton
And i agree, but while the Clintons were eviscerating the market, the media was focused on a blue dress.....
~S~
Blues Man
Diamond Member
- Aug 28, 2016
- 35,513
- 14,901
- 1,530
Bread and circusPeople like to blame the banks for the real estate bubble but they should be blaming Clinton
And i agree, but while the Clintons were eviscerating the market, the media was focused on a blue dress.....
~S~
Some things never change
Toddsterpatriot
Diamond Member
Most small banks had long ago been taken over by the big banks only making "Too Big To Fail" and even larger problem
The Story Behind ‘The Creature From Jekyll Island,’ the Anti-Fed Conspiracy Theory Bible
In the end Dodd/Frank made the problem worse rather than fix the problem. That's the point.
Both were the 'foxes' rescinding Glass Steagall in the Clinton era
Why do you think the Treasury directly injected capital into all the major banks via preferred share acquisition during the last recession if not to encourage them to lend it out and unfreeze the credit markets
The FED literally IS the banking contingent
Banks have no obligation to make people more fiscally responsible
But people could make the banks more responsible
Bankruptcies on the rise in the Kenyans economy?
This is Obama’s economy...right?
The model was after this man>
John Maynard Keynes - Wikipedia
after WW2, when we were fat/happy, it was EASY to have a 'spend like a drunk sailor' policy....
No, not at all. Shouldn't this be where I point out that Capitalism is the best plan? Do you disagree? Or is Capitalism the greatest economic system except when it isn't?
It is, except when the top dogs own Congress, and write the rules for themselves
~S~
More responsible for what exactly?
Any bank is regulated very heavily as to what they can and can't do. One of the biggest reasons banks needed a bail out was that Clinton signed the Glass Steagle bill that removed the historically sharp divisions between banks, insurance companies and investment firms
Banks lost money, and nearly failed, because of crappy mortgages, not because of anything Glass-Steagall had previously prevented.
pknopp
Diamond Member
- Jul 22, 2019
- 72,060
- 28,020
- 2,210
- Thread starter
- #176
Most small banks had long ago been taken over by the big banks only making "Too Big To Fail" and even larger problem
The Story Behind ‘The Creature From Jekyll Island,’ the Anti-Fed Conspiracy Theory Bible
In the end Dodd/Frank made the problem worse rather than fix the problem. That's the point.
Both were the 'foxes' rescinding Glass Steagall in the Clinton era
Why do you think the Treasury directly injected capital into all the major banks via preferred share acquisition during the last recession if not to encourage them to lend it out and unfreeze the credit markets
The FED literally IS the banking contingent
Banks have no obligation to make people more fiscally responsible
But people could make the banks more responsible
Bankruptcies on the rise in the Kenyans economy?
This is Obama’s economy...right?
The model was after this man>
John Maynard Keynes - Wikipedia
after WW2, when we were fat/happy, it was EASY to have a 'spend like a drunk sailor' policy....
No, not at all. Shouldn't this be where I point out that Capitalism is the best plan? Do you disagree? Or is Capitalism the greatest economic system except when it isn't?
It is, except when the top dogs own Congress, and write the rules for themselves
~S~
More responsible for what exactly?
Any bank is regulated very heavily as to what they can and can't do. One of the biggest reasons banks needed a bail out was that Clinton signed the Glass Steagle bill that removed the historically sharp divisions between banks, insurance companies and investment firms
Banks lost money, and nearly failed, because of crappy mortgages, not because of anything Glass-Steagall had previously prevented.
They would have lost money. They wouldn't have lost other people's money.
Toddsterpatriot
Diamond Member
Most small banks had long ago been taken over by the big banks only making "Too Big To Fail" and even larger problem
The Story Behind ‘The Creature From Jekyll Island,’ the Anti-Fed Conspiracy Theory Bible
In the end Dodd/Frank made the problem worse rather than fix the problem. That's the point.
Both were the 'foxes' rescinding Glass Steagall in the Clinton era
Why do you think the Treasury directly injected capital into all the major banks via preferred share acquisition during the last recession if not to encourage them to lend it out and unfreeze the credit markets
The FED literally IS the banking contingent
Banks have no obligation to make people more fiscally responsible
But people could make the banks more responsible
Bankruptcies on the rise in the Kenyans economy?
This is Obama’s economy...right?
The model was after this man>
John Maynard Keynes - Wikipedia
after WW2, when we were fat/happy, it was EASY to have a 'spend like a drunk sailor' policy....
No, not at all. Shouldn't this be where I point out that Capitalism is the best plan? Do you disagree? Or is Capitalism the greatest economic system except when it isn't?
It is, except when the top dogs own Congress, and write the rules for themselves
~S~
More responsible for what exactly?
Any bank is regulated very heavily as to what they can and can't do. One of the biggest reasons banks needed a bail out was that Clinton signed the Glass Steagle bill that removed the historically sharp divisions between banks, insurance companies and investment firms
Banks lost money, and nearly failed, because of crappy mortgages, not because of anything Glass-Steagall had previously prevented.
They would have lost money. They wouldn't have lost other people's money.
They would have lost depositor's money. On bad mortgages.
pknopp
Diamond Member
- Jul 22, 2019
- 72,060
- 28,020
- 2,210
- Thread starter
- #178
Most small banks had long ago been taken over by the big banks only making "Too Big To Fail" and even larger problem
The Story Behind ‘The Creature From Jekyll Island,’ the Anti-Fed Conspiracy Theory Bible
In the end Dodd/Frank made the problem worse rather than fix the problem. That's the point.
Both were the 'foxes' rescinding Glass Steagall in the Clinton era
Why do you think the Treasury directly injected capital into all the major banks via preferred share acquisition during the last recession if not to encourage them to lend it out and unfreeze the credit markets
The FED literally IS the banking contingent
Banks have no obligation to make people more fiscally responsible
But people could make the banks more responsible
Bankruptcies on the rise in the Kenyans economy?
This is Obama’s economy...right?
The model was after this man>
John Maynard Keynes - Wikipedia
after WW2, when we were fat/happy, it was EASY to have a 'spend like a drunk sailor' policy....
No, not at all. Shouldn't this be where I point out that Capitalism is the best plan? Do you disagree? Or is Capitalism the greatest economic system except when it isn't?
It is, except when the top dogs own Congress, and write the rules for themselves
~S~
More responsible for what exactly?
Any bank is regulated very heavily as to what they can and can't do. One of the biggest reasons banks needed a bail out was that Clinton signed the Glass Steagle bill that removed the historically sharp divisions between banks, insurance companies and investment firms
Banks lost money, and nearly failed, because of crappy mortgages, not because of anything Glass-Steagall had previously prevented.
They would have lost money. They wouldn't have lost other people's money.
They would have lost depositor's money. On bad mortgages.
You can continue to ignore what I said if you want.
Toddsterpatriot
Diamond Member
The Story Behind ‘The Creature From Jekyll Island,’ the Anti-Fed Conspiracy Theory Bible
Both were the 'foxes' rescinding Glass Steagall in the Clinton era
The FED literally IS the banking contingent
But people could make the banks more responsible
The model was after this man>
John Maynard Keynes - Wikipedia
after WW2, when we were fat/happy, it was EASY to have a 'spend like a drunk sailor' policy....
It is, except when the top dogs own Congress, and write the rules for themselves
~S~
More responsible for what exactly?
Any bank is regulated very heavily as to what they can and can't do. One of the biggest reasons banks needed a bail out was that Clinton signed the Glass Steagle bill that removed the historically sharp divisions between banks, insurance companies and investment firms
Banks lost money, and nearly failed, because of crappy mortgages, not because of anything Glass-Steagall had previously prevented.
They would have lost money. They wouldn't have lost other people's money.
They would have lost depositor's money. On bad mortgages.
You can continue to ignore what I said if you want.
I will continue to point out your errors.
They would have lost money. They wouldn't have lost other people's money.
How much money that a bank loans out is not "other people's money"?
pknopp
Diamond Member
- Jul 22, 2019
- 72,060
- 28,020
- 2,210
- Thread starter
- #180
More responsible for what exactly?
Any bank is regulated very heavily as to what they can and can't do. One of the biggest reasons banks needed a bail out was that Clinton signed the Glass Steagle bill that removed the historically sharp divisions between banks, insurance companies and investment firms
Banks lost money, and nearly failed, because of crappy mortgages, not because of anything Glass-Steagall had previously prevented.
They would have lost money. They wouldn't have lost other people's money.
They would have lost depositor's money. On bad mortgages.
You can continue to ignore what I said if you want.
I will continue to point out your errors.
They would have lost money. They wouldn't have lost other people's money.
How much money that a bank loans out is not "other people's money"?
Not talking about loans but you know that. I've learned you refuse to be honest in discussions so I will not waste my time.
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