The Banking Collapse of 2023 is now bigger than the 2008 “banking crisis”

[DudleySmith]

The owners of the Federal Reserve which is a privately owned bank that orders the U.S. treasury to print money, were stalwarts at the time the Federal Reserve Act was passed in 1913 saying there would be no more recessions and depressions as fiat currencies were so much better than gold and silver backed ones which are called barbarous relics. The Federal Reserve caused the Great Depression by tightening the money supply like a vice in 1929 after greasing the wheels for a decade and causing the Roaring Twenties. Today we have safeguards and levels of social programs that buffer any decline up to now.

Actually it was the dismantling of the New Deal legislation that allowed banks to grow huge and let them gamble on stocks and bonds and allowed monopolies to develop and conglomerates to control markets. And yes, Democrats were in the middle of it all along with their Republican partners. The 'Too Big To fail' mentality began in the late 1960's, not 2008. The Watergate Babies were as big a fan of giant corporations swallowing up the economy as any Reaganite dumbass was. And while the Right is sniveling about Barnery FRank they need to include Phil Gramm and Newt Gingrich along with a whole host of Republicans on that list.

 

[pknopp]

I would have made them override it but looking at the votes, it would have happened.

Maybe. Maybe not. Veto it, explain why and then force the rest to defend why they would over ride it.

Laws and regulations are there for a reason.
Someone crossed the line and it is usually the republicans, doing it.
Look at the SCOTUS.
ALL republicans.............NOW republicans claim they are being smeared and attacked.
The democrats aren't blameless, by any means.

Then quit trying to defend them.

I agree, but loosening already weak regulations, is going in the wrong direction.

I have no idea where you might think I was even suggesting that. Dodd/Frank should have made the banks and investors 100% responsible for any future collapses.

As far as I know, Biden wasn't involved in who bought what, or even letting them fail, or anything.
There are opinions, no evidence.

I had to argue this with Trump supporters for the things that went on under him. Biden is the president. What goes on falls at his feet.

 

[DudleySmith]

As far as I know, Biden wasn't involved in who bought what, or even letting them fail, or anything.
There are opinions, no evidence.

Wrong. Biden has been involvrd eve since he went to Washington as a Watergate Baby and tossed out all the old timers like Wright Patman and others who fought the big banks and monopolies. They were all going to be Big Technocrats N Stuff, but like all arrogant halfwits with high self-esteem they got played, and then happily bought off for the rest of their careers as professional pols. All Reagan did was carry on theirs and Carter's policies of 'deregulation' and allowing swindlers to run free and unhindered by any pesky controls of any kind, and they also knocked down GAAP accounting standards to help them doctor their books while suckering investors in.

 

[DudleySmith]

https://www.thestreet.com/technology/big-short-burry-warns-that-a-repeat-of-the-2008-crisis-is-in-sight

 

[pknopp]

https://www.thestreet.com/technology/big-short-burry-warns-that-a-repeat-of-the-2008-crisis-is-in-sight

"I am very upset. It's like a pendulum. They were way too easy through 2020 and 2021, and now 'we're going to be real tough guys until we crush the economy.' I mean, that is just to me absolutely, poor monetary policy would be an understatement," Siegel lambasted last month.

No, they were way too easy from 2008 to 2021. The writing being on the wall, the Fed has had to try and get ahead of the next collapse and they would have no way to do that with interest rates still so low.

I am always amazed that a guy is getting paid to be an expert here and would say that the problem was only because of 2020 and 2021.

 

[Nuthin' Fancy]

Maybe. Maybe not. Veto it, explain why and then force the rest to defend why they would over ride it.

Like I stated, I would have.

Then quit trying to defend them.

Against WHAT?

I have no idea where you might think I was even suggesting that. Dodd/Frank should have made the banks and investors 100% responsible for any future collapses.

It worked until................2023.

I had to argue this with Trump supporters for the things that went on under him. Biden is the president. What goes on falls at his feet.

No, it doesn't.
Nor did it under Trump.
Some democrats blamed Trump for COVID, that wasn't his fault.
Trump's response was his fault.
Was Biden responsible for Russia invading Ukraine?
NO.
But his response will be.

That's where people get out of control, blaming presidents for incidents...........out of their control.
Ultimately, this was the BANKERS fault for "crossing the line".

 

[pknopp]

Like I stated, I would have.

Against WHAT?

It worked until................2023.

No it didn't. It just takes time to build up the cards for them to fall.

No, it doesn't.
Nor did it under Trump.
Some democrats blamed Trump for COVID, that wasn't his fault.
Trump's response was his fault.
Was Biden responsible for Russia invading Ukraine?
NO.
But his response will be.

That's where people get out of control, blaming presidents for incidents...........out of their control.
Ultimately, this was the BANKERS fault for "crossing the line".

Bankers worked with the system politicians gave them. Politicians that included Biden. After 2008 their hands should have been tied behind their backs.

 

[struth]

WTF?
I just did, moron.

no you didn’t…you posted some headlines.

what did Trump loosen specifically that lead to these banks not being able to keep up with the xiden inflation?

 

[22lcidw]

Actually it was the dismantling of the New Deal legislation that allowed banks to grow huge and let them gamble on stocks and bonds and allowed monopolies to develop and conglomerates to control markets. And yes, Democrats were in the middle of it all along with their Republican partners. The 'Too Big To fail' mentality began in the late 1960's, not 2008. The Watergate Babies were as big a fan of giant corporations swallowing up the economy as any Reaganite dumbass was. And while the Right is sniveling about Barnery FRank they need to include Phil Gramm and Newt Gingrich along with a whole host of Republicans on that list.

The New Deal was found to be unconstitutional at that time. The talent of men who came from Europe who had trade abilities was incredible. Alas a Depression muted that and what was used in huge depression era government projects showed their artistic genius. The social state increased massively in the 1960's legislation and was quickly corrupted. The growth grew exponentially, and the government grew the same way. Without the tax cuts for peons during the Reagan era, federal taxes would be oppressive right now. The real issue is that we have massive social payouts. Including social security. And it is growing more and more. We have to come to terms with this.

 

[Nuthin' Fancy]

No it didn't. It just takes time to build up the cards for them to fall.

Yeah, from 2018 to 2023.

Bankers worked with the system politicians gave them.

No, they didn't.
If they did, they wouldn't have failed.
What about the hundreds of other banks?
What about the banks that took over SVB and Republic?
THEY aren't in trouble...................YET.

Politicians that included Biden. After 2008 their hands should have been tied behind their backs.

They were................until TRUMP.
Biden should have reversed Trump's rollback.

 

[Nuthin' Fancy]

no you didn’t…you posted some headlines.

what did Trump loosen specifically that lead to these banks not being able to keep up with the xiden inflation?

Guess, you can't be bothered to read links or like your dear leader...........READ at all.

Stress test relief tops bank wish list ahead of Trump's rule ...​

Reuters
https://www.reuters.com › article › us-usa-banks-regul...
Jun 2, 2017 — As Wall Street awaits President Donald Trump's vision for financial regulation, big U.S. banks are pushing for a lucrative change his ...

As President Donald Trump's administration works to roll back industry regulations deemed onerous, investors in banks like JPMorgan Chase & Co. (JPM) - Get Free Report , Bank of America Corp. (BAC) - Get Free Report and Citigroup Inc. (C) - Get Free Report could see another staple of oversight stripped away: annual "stress tests" by the Federal Reserve designed to ensure the firms are prepared for a big financial crisis.

The Trump administration in 2017 made good on its pledge to roll back post-crisis rules on the financial industry, installing former bank executives and lawyers to oversee key supervisory agencies like the Office of the Comptroller of the Currency and the Securities and Exchange Commission. He's also asked for cuts to the agencies' budgets, even amid growing concerns that markets are overheating, asset-price volatility has become eerily low and that the financial system could be targeted by a big cybersecurity attack.

Federal Reserve Chair Jerome Powell said during a U.S. Senate confirmation hearing in November that large banks have enough capital to keep lending to households and businesses "throughout the economic cycle, even when times are tough,"

 

[pknopp]

Yeah, from 2018 to 2023.

Nope.

No, they didn't.
If they did, they wouldn't have failed.
What about the hundreds of other banks?
What about the banks that took over SVB and Republic?
THEY aren't in trouble...................YET.

They were................until TRUMP.
Biden should have reversed Trump's rollback.

He should have. He didn't did he?

 

[Nuthin' Fancy]

Nope.

Yep.

Bank Failures: Past and Present​

Marquette Associates
https://www.marquetteassociates.com › Research
Mar 15, 2023 — All told, a total of just eight banks with a combined $678 million in assets failed from 2018–2022. Needless to say, dynamics within the ...

He should have. He didn't did he?

Oh' darn.
Biden failed to stop the Uvalde school shooting also.

 

[Independent thinker]

Yet everyone is just acting as though nothing is wrong.

$532 billion in assets for the three banks failed so far, which is more than the $526 billion combined from the 25+ banks that failed in 2008.

The Banking Collapse Of 2023 Is Now Officially Bigger Than The Banking Collapse Of 2008 Was – Investment Watch

www.investmentwatchblog.com

The deep state has it all under control.

 

[pknopp]

Yep.

Bank Failures: Past and Present​

View attachment 781799
Marquette Associates
https://www.marquetteassociates.com › Research
Mar 15, 2023 — All told, a total of just eight banks with a combined $678 million in assets failed from 2018–2022. Needless to say, dynamics within the ...

Oh' darn.
Biden failed to stop the Uvalde school shooting also.

Biden and the Democrats had the ability to reinstitute the regulations. They could do it now. They could make it a part of their debt ceiling negotiations.

 

[SavannahMann]

Yet everyone is just acting as though nothing is wrong.

$532 billion in assets for the three banks failed so far, which is more than the $526 billion combined from the 25+ banks that failed in 2008.

The Banking Collapse Of 2023 Is Now Officially Bigger Than The Banking Collapse Of 2008 Was – Investment Watch

www.investmentwatchblog.com

So you are saying the regulation roll back was a huge mistake?

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

The measure designed to ease rules on all but the largest U.S. banks passed both chambers of Congress with bipartisan support.

www.cnbc.com

If the old regulations were in effect would the banks been allowed to be managed the way that caused their failures?

 

[Votto]

In 2008 I was the sole bread winner for the family and I was just a E7 in the Marine Corps.

Since then I retired from the Marines, have finished my Bachelor and my Masters and am making 3 times what I was as a Marine when you add in my monthly retirement from the Marines

My wife is also now working and making more than me minus my retirement.

Hell, between the two of us our income went up 21% from 2021 to 2022.

Sorry your life has not been as successful.

Most of America are not as fortunate.

Glad to see you are privileged.

You should pay some reparations to those who are not..

 

[Nuthin' Fancy]

Biden and the Democrats had the ability to reinstitute the regulations. They could do it now.

I'm pretty sure, they are working on that.

Biden urges regulators to reverse Trump-era banking rules​

NY1
https://www.ny1.com › nyc › news › 2023/03/30 › bi...
Mar 30, 2023 — Biden wants to revive and expand rules for mid-size banks that face less scrutiny than the industry's behemoths, with administration officials ...

They could make it a part of their debt ceiling negotiations.

Don't think that will happen.

 

[pknopp]

I'm pretty sure, they are working on that.

Biden urges regulators to reverse Trump-era banking rules​

View attachment 781807
NY1
https://www.ny1.com › nyc › news › 2023/03/30 › bi...
Mar 30, 2023 — Biden wants to revive and expand rules for mid-size banks that face less scrutiny than the industry's behemoths, with administration officials ...

Don't think that will happen.

"Urges regulators"? No, pass the laws and enforce them.

 

[Harpy Eagle]

Most of America are not as fortunate.

Glad to see you are privileged.

You should pay some reparations to those who are not..

There is no privilege at all, just two people deciding they did not like where they were just scrapping by and working their asses to better their situation.

If we did it, you can too little buddy!