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Sigh, why do I bother. The big NY banks got bailed out. Who cares about those little banks? One of the points of the Fed is to protect the big NY and international banks. They're doing a good job of that.They've actually convinced the government and the people to give them the power to create the money and the subsequent huge profits from it.
too stupid!!! What huge profits?? You were just talking about how they needed to be bailed out and the 1000's of bankruptcies in the industry?
Are you freaking kidding me? What idiot capitalist would settle for no profit?Also the world is competitive; if one industry is not competitive and so earns huge profits others then enter the industry until capitalist competition forces profits to $0.
Welcome to Econ 101 class one, day one!!
dear, please remember you are a liberal and so will be slow, very very slow. If you have evidence that the NY Banks dictate the money supply rather than Bernanke and board I will pay you $10,000. Bet or run away with your liberal tail between your legs.
Sorry, I don't bet with strangers unless I know they have the money to pay up.
Especially when I know they'd lose the bet, to wit:
Board of Governors of the Federal Reserve System - Fedpoints - Federal Reserve Bank of New York
But you'll stammer and steam and say "But the President nominates and the Senate confirms all those BoG guys!"
FRB: Board Members
Read their bios. Ben was in and out of the NYFed several times. Three others worked at the NY Fed in their careers.
The government/private industry revolving door is alive and well-oiled at the Fed.
And since, as quoted above, the NY Fed conducts the FOMC policy decisions, you can be damn sure they're not going to be "told" to do anything they don't want to do.
dear, the religious beliefs of some conservatives are not important important but the pure stupidity of liberalism is. Liberals treasonously spied for Stalin, pay child mothers per illigitimate birth, think you expand an economy by taxing it, cripple millions with personal bailouts with no thought of moral hazard, just subversively buying a voting constituency, and beloeve in trickle down welfare rather than trickle down supply side economics.
Rather than start another thread about conservatives religious beliefs, I'll let that one lie.
You want to talk about no moral hazard? How about a business that no matter how badly you screw up, you get bailed out by the taxpayers, and get to keep your job to boot? You think the CEOs of the big NY banks worry themselves to sleep at night about what their decisions are going to mean for the business or their personal situation?
You conservatives scream and wail about welfare queens (which don't actually exist any more), but the bankers are the biggest hogs at the government teat. They've actually convinced the government and the people to give them the power to create the money and the subsequent huge profits from it.... but they're doing it in your best interests. They've actually managed to convince the vast majority of the country that constant growth in a finite environment is not only possible, but desirable.
And let's not start in with 'supply-side'. There's a good reason the developer of that 'economic theory' is Laffer, cause it's a joke.
How about a business that no matter how badly you screw up, you get bailed out by the taxpayers, and get to keep your job to boot?
You mean like B of A, Citigroup, Merrill, Lehman, Bear Stearns, Wachovia, Washington Mutual and Indy Mac? LOL!
You sure have the liberal talking points down. Facts, not so much.
They've actually convinced the government and the people to give them the power to create the money and the subsequent huge profits from it....
Loaning out a portion of deposits?
The horror, the horror!
Sigh, why do I bother. The big NY banks got bailed out. Who cares about those little banks? One of the points of the Fed is to protect the big NY and international banks. They're doing a good job of that.They've actually convinced the government and the people to give them the power to create the money and the subsequent huge profits from it.
too stupid!!! What huge profits?? You were just talking about how they needed to be bailed out and the 1000's of bankruptcies in the industry?
Are you freaking kidding me? What idiot capitalist would settle for no profit?Also the world is competitive; if one industry is not competitive and so earns huge profits others then enter the industry until capitalist competition forces profits to $0.
Welcome to Econ 101 class one, day one!!
Better than that, they force out competition by having deeper pockets and selling for less until the competition is gone.
$0 profit? Now that's stupid.
Sorry, I don't bet with strangers unless I know they have the money to pay up.
Especially when I know they'd lose the bet, to wit:
Board of Governors of the Federal Reserve System - Fedpoints - Federal Reserve Bank of New York
But you'll stammer and steam and say "But the President nominates and the Senate confirms all those BoG guys!"
FRB: Board Members
Read their bios. Ben was in and out of the NYFed several times. Three others worked at the NY Fed in their careers.
The government/private industry revolving door is alive and well-oiled at the Fed.
And since, as quoted above, the NY Fed conducts the FOMC policy decisions, you can be damn sure they're not going to be "told" to do anything they don't want to do.
Rather than start another thread about conservatives religious beliefs, I'll let that one lie.
You want to talk about no moral hazard? How about a business that no matter how badly you screw up, you get bailed out by the taxpayers, and get to keep your job to boot? You think the CEOs of the big NY banks worry themselves to sleep at night about what their decisions are going to mean for the business or their personal situation?
You conservatives scream and wail about welfare queens (which don't actually exist any more), but the bankers are the biggest hogs at the government teat. They've actually convinced the government and the people to give them the power to create the money and the subsequent huge profits from it.... but they're doing it in your best interests. They've actually managed to convince the vast majority of the country that constant growth in a finite environment is not only possible, but desirable.
And let's not start in with 'supply-side'. There's a good reason the developer of that 'economic theory' is Laffer, cause it's a joke.
How about a business that no matter how badly you screw up, you get bailed out by the taxpayers, and get to keep your job to boot?
You mean like B of A, Citigroup, Merrill, Lehman, Bear Stearns, Wachovia, Washington Mutual and Indy Mac? LOL!
You sure have the liberal talking points down. Facts, not so much.
BoA and Citi still exist and are profitable, ML, Lehman and BS weren't banks, and Wach, WM and IM were eaten by bigger banks.
"Liberal talking points"? I don't know of any "liberal" that wants to eliminate the Fed and fractional reserve banking. I never hear that on MSNBC or any of those "liberal media outlets". Actually, I'd say those who are for an honest money system are more conservative in nature.
They've actually convinced the government and the people to give them the power to create the money and the subsequent huge profits from it....
Loaning out a portion of deposits?
The horror, the horror!
No, the Fed says they create money when they make a loan. I linked it earlier, maybe you missed it?
But even still... Give me $1000 to hold for you...
I'll loan out $900 of your hard earned.
Buy tell you that you can have all $1000 at any time.
You don't see a problem with that?
]
Yeah, a few banks got bailed out... the 'too big to fail' ones. Which is my point. The big NY banks got bailed out,
too stupid liberal liar!!
Some banks got bailout out ( even Krugman supported it) they paid the money back and we avoided a depression, but many big NY banks went bankrupt: WaMu
Merryl, Lehman, Bear, etc etc!! And now we have Dodd Frank so they won't be bailed out again if ever they are that stupid again which is highly unlilkely.
Also, million of individuals get bailed, more every day, out and never pay the money back. Libturds don't object to that!! Libturds love that. Fanny Freddie got $200 billion and never paid the money back and never will! Libturds love that .
See why we say , slow, so very very slow!!!
I have to wonder why you get so upset at people who are down on their luck, disabled, old, single parents, and otherwise unable to support themselves getting a measly thousand or two a month when the bankers rip you off blind every day.
stupid liberal liar!! what rip off??? You have not mentioned this before let alone provided evidence??? Do you want the people to pay back their bailouts like banks did????? Do you want evey American in the end to suffer the moral hazard of liberal welfare bailouts???? For example:
1960 455,00 workers got SS disbility
2010 8.2 million
2011 8.6 million
2012 8.7 million
And this despite the huge rise in public health and work place safety!!
Helping people down on their luck is one thing but crippling them with welfare to create a voting constituency is a Nazi-like tactic.
Do you have the IQ and character to grasp the concept or are you too busy being a morally superior bigot to think??
a government sponsored cartel of banks running the money supply on thin air and for their own profit,
too perfectly stupid!!! money supply is determined by Fed not banks!! Why not take Econ 101 before you vomit your pure ignorance??? Is that in Mankiw's Econ 101?? Samuelson's or any Econ 101, or just in your sad sad brainwashed little head???
See why we are positve a liberal will be slow, so very very slow!!
The big NY banks got bailed out.
They paid back TARP.
The Treasury made 10s of billions.
How about a business that no matter how badly you screw up, you get bailed out by the taxpayers, and get to keep your job to boot?
You mean like B of A, Citigroup, Merrill, Lehman, Bear Stearns, Wachovia, Washington Mutual and Indy Mac? LOL!
You sure have the liberal talking points down. Facts, not so much.
BoA and Citi still exist and are profitable, ML, Lehman and BS weren't banks, and Wach, WM and IM were eaten by bigger banks.
"Liberal talking points"? I don't know of any "liberal" that wants to eliminate the Fed and fractional reserve banking. I never hear that on MSNBC or any of those "liberal media outlets". Actually, I'd say those who are for an honest money system are more conservative in nature.
ML, Lehman and BS weren't banks
Investment banks aren't banks?
How are all the CEOs of the banks I mentioned doing lately?
They've actually convinced the government and the people to give them the power to create the money and the subsequent huge profits from it....
Loaning out a portion of deposits?
The horror, the horror!
No, the Fed says they create money when they make a loan. I linked it earlier, maybe you missed it?
But even still... Give me $1000 to hold for you...
I'll loan out $900 of your hard earned.
Buy tell you that you can have all $1000 at any time.
You don't see a problem with that?
No, the Fed says they create money when they make a loan.
Yes, when a bank lends out $900 of the $1000 they receive as a deposit, the money supply increases by $900.
Buy tell you that you can have all $1000 at any time.
That's awful. When is the last time you tried to take out money and were told you couldn't have it?
You don't see a problem with that?
Why would I?
Not so fast. Your link says from 2008-2010 were the years. You shouldn't be blaming anyone here. You should be looking at criticizing Nancy Pelosi's Democrat Congresses who sealed the deal on banks giving shaky loans to people with histories of nonpayment and banks were remunerated for losses through tax breaks. An explanation of TARP blaming President Bush for the whole nine yards rather than the Democrat Congress who crammed this one down America's throat. If Wikipedia puts the onus for the Troubled Asset Relief Program on someone else it must be true?The big NY banks got bailed out.
They paid back TARP.
The Treasury made 10s of billions.
Yeah, right. And the banks pad little or no taxes.
Bailed-out banks paid no income tax in some years, according to study | The Center for Public Integrity
So the treasury lost money on the deal.
You're a sucker, Toddster.
Yeah, good point. Why would you when you can't see the implications of banks inflating (and deflating) the money supply at their whim.
The big NY banks got bailed out.
They paid back TARP.
The Treasury made 10s of billions.
Yeah, right. And the banks pad little or no taxes.
Bailed-out banks paid no income tax in some years, according to study | The Center for Public Integrity
So the treasury lost money on the deal.
You're a sucker, Toddster.
BoA and Citi still exist and are profitable, ML, Lehman and BS weren't banks, and Wach, WM and IM were eaten by bigger banks.
"Liberal talking points"? I don't know of any "liberal" that wants to eliminate the Fed and fractional reserve banking. I never hear that on MSNBC or any of those "liberal media outlets". Actually, I'd say those who are for an honest money system are more conservative in nature.
ML, Lehman and BS weren't banks
Investment banks aren't banks?
Nope. They're not FDIC insured, for one thing. And they can't loan out money as debt like banks do.
How are all the CEOs of the banks I mentioned doing lately?
Oh like Jamie Dimon's 50% pay cut to $11 million? Not too bad, I'd say.
No, the Fed says they create money when they make a loan. I linked it earlier, maybe you missed it?
But even still... Give me $1000 to hold for you...
I'll loan out $900 of your hard earned.
Buy tell you that you can have all $1000 at any time.
You don't see a problem with that?
No, the Fed says they create money when they make a loan.
Yes, when a bank lends out $900 of the $1000 they receive as a deposit, the money supply increases by $900.
So you agree they create money when they loan it? Good.
Buy tell you that you can have all $1000 at any time.
That's awful. When is the last time you tried to take out money and were told you couldn't have it?
Not me, personally. But I read history, and it's happened many times.
And most banks today have large withdrawal restrictions.
Basically cause they just don't have the cash.
You don't see a problem with that?
Why would I?
Yeah, good point. Why would you when you can't see the implications of banks inflating (and deflating) the money supply at their whim.
Are you freaking kidding me? What idiot capitalist would settle for no profit?
Better than that, they force out competition by having deeper pockets and selling for less until the competition is gone.
$0 profit? Now that's stupid.
Not so fast. Your link says from 2008-2010 were the years. You shouldn't be blaming anyone here. You should be looking at criticizing Nancy Pelosi's Democrat Congresses who sealed the deal on banks giving shaky loans to people with histories of nonpayment and banks were remunerated for losses through tax breaks. An explanation of TARP blaming President Bush for the whole nine yards rather than the Democrat Congress who crammed this one down America's throat. If Wikipedia puts the onus for the Troubled Asset Relief Program on someone else it must be true?The big NY banks got bailed out.
They paid back TARP.
The Treasury made 10s of billions.
Yeah, right. And the banks pad little or no taxes.
Bailed-out banks paid no income tax in some years, according to study | The Center for Public Integrity
So the treasury lost money on the deal.
You're a sucker, Toddster.
Just think of it. Democrats get in a tizzy and act against good conscience, pass the blame to Republicans, and their believers wind up screaming at all conservatives for everything predicted about and caused by liberals. It's gimme-gotcha, gimme-gotcha, gimme-gotcha, and it sounds like a railroad job huffing and puffing its way into American taxpayer billfolds with no accounting for it ever again.
My list didn't include JPM. Try again?
As far as liberals who want to ditch the Fed, Alan Grayson comes to mind.
