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

[struth]

This is a fact. These things become a self fulfilling prophecy. People hear a rumor about a bank and they all rush to take out their money, actually causing what they were worried about.

Same thing happened with TP during COVID. There was a story about a shortage and BOOM everyone went to the store and bought as much as they could fit in their car, and then there really was a shortage.

Did any TP manufactors go out of business, or people lose their life savings due to running out of TP, the way we are seeing with banks today in Xiden's America?

 

[Mac1958]

The characteristics and implications between the Meltdown and today are completely different. Not even close.

A consistent thread, though, is that neither would have happened if (a) Glass Steagall had not been repealed and (b) banking regulations were more comprehensive.

So shit like this only opens the door for some people to consider even worse ideas, like moving away from capitalism.

Appropriate, efficient regulation is not the bane of capitalism, it's a CRITICAL COMPONENT of capitalism. We refuse to learn.

 

[struth]

The characteristics and implications between the Meltdown and today are completely different. Not even close.

A consistent thread, though, is that neither would have happened if (a) Glass Steagall had not been repealed and (b) banking regulations were more comprehensive.

So shit like this only opens the door for some people to consider even worse ideas, like moving away from capitalism.

Appropriate, efficient regulation is not the bane of capitalism, it's a CRITICAL COMPONENT of capitalism. We refuse to learn.

There's not a single, solitary example that" signing the bill to end Glass-Steagall "had anything to do with the financial crash."

Bill Clinton: Glass-Steagall repeal had nothing to do with financial crisis

Recently, activists have shown up at Hillary Clinton’s campaign events to urge her to bring back Glass-Steagall. What is

www.politifact.com

The banks failing today, had nothing to do with Glass-Steagall either..Silicon Valley Bank was acutally under supervision for most of 2022 by the Govt, prior to it's failure. It's failure was because of the Xiden economy and people's fears of it.

First Republic’s books dropped in value as the Federal Reserve rapidly raised interest rates last year. So, if the bank tried to sell the loans to raise capital, it would do so at a loss. Similar circumstances had doomed Silicon Valley Bank.

Why First Republic failed. Are other banks to follow?

First Republic Bank has become the second large regional bank with assets over $200 billion to fail in just a few weeks. Like Silicon Valley Bank, which was seized by the government on March 10, First Republic catered to a wealthy clientele, which helped it grow deposits rapidly but may have...

apnews.com

 

[Mac1958]

There's not a single, solitary example that" signing the bill to end Glass-Steagall "had anything to do with the financial crash."

Bill Clinton: Glass-Steagall repeal had nothing to do with financial crisis

Recently, activists have shown up at Hillary Clinton’s campaign events to urge her to bring back Glass-Steagall. What is

www.politifact.com

The banks failing today, had nothing to do with Glass-Steagall either..Silicon Valley Bank was acutally under supervision for most of 2022 by the Govt, prior to it's failure. It's failure was because of the Xiden economy and people's fears of it.

First Republic’s books dropped in value as the Federal Reserve rapidly raised interest rates last year. So, if the bank tried to sell the loans to raise capital, it would do so at a loss. Similar circumstances had doomed Silicon Valley Bank.

Why First Republic failed. Are other banks to follow?

First Republic Bank has become the second large regional bank with assets over $200 billion to fail in just a few weeks. Like Silicon Valley Bank, which was seized by the government on March 10, First Republic catered to a wealthy clientele, which helped it grow deposits rapidly but may have...

apnews.com

You don't know what I'm talking about. You don't know what you're talking about.

<flick>

 

[gipper]

There's not a single, solitary example that" signing the bill to end Glass-Steagall "had anything to do with the financial crash."

Bill Clinton: Glass-Steagall repeal had nothing to do with financial crisis

Recently, activists have shown up at Hillary Clinton’s campaign events to urge her to bring back Glass-Steagall. What is

www.politifact.com

The banks failing today, had nothing to do with Glass-Steagall either..Silicon Valley Bank was acutally under supervision for most of 2022 by the Govt, prior to it's failure. It's failure was because of the Xiden economy and people's fears of it.

First Republic’s books dropped in value as the Federal Reserve rapidly raised interest rates last year. So, if the bank tried to sell the loans to raise capital, it would do so at a loss. Similar circumstances had doomed Silicon Valley Bank.

Why First Republic failed. Are other banks to follow?

First Republic Bank has become the second large regional bank with assets over $200 billion to fail in just a few weeks. Like Silicon Valley Bank, which was seized by the government on March 10, First Republic catered to a wealthy clientele, which helped it grow deposits rapidly but may have...

apnews.com

Repealing Glass-Stegall was dumb and the consequences have been horrendous for all but a few extraordinarily wealthy individuals. I read just the other day that Rubin, Clinton’s Treasury Secretary was buddy buddy with Sandy Weill of Citigroup. Sandy wanted the repeal and being rich and powerful got what he wanted. He pressured Rubin who made it happen. Typical of how our government works.

 

[struth]

Repealing Glass-Stegall was dumb and the consequences have been horrendous for all but a few extraordinarily wealthy individuals. I read just the other day that Rubin, Clinton’s Treasury Secretary was buddy buddy with Sandy Weill of Citigroup. Sandy wanted the repeal and being rich and powerful got what he wanted. He pressured Rubin who made it happen. Typical of how our government works.

it’s had no consequences of not negatively

 

[gipper]

it’s had no consequences of not negatively

What?

 

[Care4all]

I would like for Democrats to fold up their corrupt party and go to prison, where they belong. They are major players in the take over of the American economy by thieves and swindlers, and their fake pretenses of being 'for the little people' is nothing but a hoax. They are not even remotely a counter party to the GOP establishment. They just compete for bribes with them.

I totally disagree. Unless you name names and any actual corruption they committed, your vagueness doesn't give me a shred of anything to debate or argue with you over... it's just plain meaningless.

 

[Care4all]

The OP just shared the numbers....the numbers are the numbers...and the numbers are bigger now.

No, they are not the numbers vs 2007/2008 great recession.

He left out 2/3s of the collapse.

 

[DudleySmith]

The characteristics and implications between the Meltdown and today are completely different. Not even close.

A consistent thread, though, is that neither would have happened if (a) Glass Steagall had not been repealed and (b) banking regulations were more comprehensive.

So shit like this only opens the door for some people to consider even worse ideas, like moving away from capitalism.

Appropriate, efficient regulation is not the bane of capitalism, it's a CRITICAL COMPONENT of capitalism. We refuse to learn.

Same old shit, different day.

 

[DudleySmith]

I totally disagree. Unless you name names and any actual corruption they committed, your vagueness doesn't give me a shred of anything to debate or argue with you over... it's just plain meaningless.

Names have been named since the 1960's. Just because you are blissfully ignorant and never read anything doesn't mean anything. You're not here to 'debate', you're here to shill. You want a good one, with a lot of history? Read Matt Stoller's Goliath, for a current one. My bet is you will just continue to parrot crap from DU or Daily Kos or Salon; it's alot easier than doing your own homework, and your peer group will make you part of The Team..

 

[Care4all]

Names have been named since the 1960's. Just because you are blissfully ignorant and never read anything doesn't mean anything. You're not here to 'debate', you're here to shill. You want a good one, with a lot of history? Read Matt Stoller's Goliath, for a current one. My bet is you will just continue to parrot crap from DU or Daily Kos or Salon; it's alot easier than doing your own homework, and your peer group will make you part of The Team..

I don't read or go to the DU, or Salon, or the Daily Los sites. Try again!

From preview of the book and reviews of the book, what Stroller speaks of regarding corporate or billionaire influence on our Democracy is a valid concern, bit it can be corrected and put dormant by reversing the conservative Supreme court decision on Citizen United, and other measures instituted to disallow any corporate donations....

We can't just throw our hands up and give up or retreat.

Blaming this on Democrats only is foolish, to the nth degree.

 

[struth]

I don't read or go to the DU, or Salon, or the Daily Los sites. Try again!

From preview of the book and reviews of the book, what Stroller speaks of regarding corporate or billionaire influence on our Democracy is a valid concern, bit it can be corrected and put dormant by reversing the conservative Supreme court decision on Citizen United, and other measures instituted to disallow any corporate donations....

We can't just throw our hands up and give up or retreat.

Blaming this on Democrats only is foolish, to the nth degree.

to overturn Citizens United and limit free speech, all you have to do is amend the Constitution. Have the dems proposed an Amendment yet?

 

[DudleySmith]

We can't just throw our hands up and give up or retreat.

Blaming this on Democrats only is foolish, to the nth degree.

Democrats have already 'given up'; Biden's last budget Bill that got passed was 90% corporate pork and welfare. and I never blame 'Democrats Only'. That's just another one of your strawmen. And, you get pretty much all of your memes from DU or Daily Kos and the others, whether directly or not, and you get them word for word.. You think the Feds should be giving Bill Gates $300 million to do anything?

The problems we have have little to do with Citizens United, no matter what your masters have been feeding you mushrooms.

 

[DudleySmith]

From preview of the book and reviews of the book,

lol yes, whatever you do never actually read the books!!! lol

 

[Burgermeister]

Interest rates increased again. Incredible.