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

[bigrebnc1775]

Right on cue.

And this crash they can't blame anyone but bidumbass

 

[g5000]

AIG alone lost almost $100 billion in 2008.

Lehman collapsed with $618 billion in debts.

And there were many others not on the list of bank failures your idiot reporters have not mentioned.

You credulous rubes should be asking yourselves why those amounts have not been not added to the total of losses in 2008.

Think about that, and then try to tell me we are in the same ballpark.

 

[g5000]

Yet everyone is just acting as though nothing is wrong.

$532 billion in assets for the three banks failed so far

$618 billion for Lehman alone in 2008.

We are not even close to the same ballpark.

 

[g5000]

And this crash they can't blame anyone but bidumbass

No, the blame is squarely on the mismanaged banks.

This happened in the 70s, too. When interest rates rose back then, a lot of banks went under.

It's simple economics. Low interest long term loans will kill you when interest rates go up if you aren't careful. Every time.

 

[g5000]

How can a dipshit "reporter" write an economic story about 2008 without mentioning the broker-dealers and AIG?

How can anyone who was alive back then not notice this massive oversight? Amnesia? Is there a single critical thinking brain cell in these people?

Seriously.

 

[Toro]

It is not worse. I explained it, and this is not worse. We were literally hours from outright collapse in 2008. You don't know that, either. AND, the mechanics and conditions in 2008 were COMPLETELY, ENTIRELY different, NOT EVEN CLOSE.

I'm done. This is depressing.

This is correct.

2008 was an existential crisis. The system was on the verge of collapse. That’s because the aggregate losses incurred rendered the entire banking system insolvent. That’s not the case today.

But today isn’t over yet.

 

[22lcidw]

No, the blame is squarely on the mismanaged banks.

This happened in the 70s, too. When interest rates rose back then, a lot of banks went under.

It's simple economics. Low interest long term loans will kill you when interest rates go up if you aren't careful. Every time.

If these corporations are part of the globalism who prints fiat money out of nothing it really does not matter. They will offer one or a few of them as martyrs for the cause to make it look like we are a free people. They lose nothing. The fiat currencies printed come from us to suffer.

 

[toobfreak]

Isn't Citizens United a wonderful thing?

I wouldn't know. I think I've heard of it but am not up on the details. But if you like it, it can't be too good of a thing.

 

[bigrebnc1775]

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

A banking crash is the least of our concern.

U.S. could face possible weapons shortage as it continues to supply military aid to Ukraine, war game shows

A recent war game showed that the U.S. would run out of a key weapon while trying to stop a Chinese invasion of Taiwan.

www.cbsnews.com

 

[Toro]

How can a dipshit "reporter" write an economic story about 2008 without mentioning the broker-dealers and AIG?

How can anyone who was alive back then not notice this massive oversight? Amnesia? Is there a single critical thinking brain cell in these people?

Seriously.

You have to look at the entire financial system. The problems weren’t just in the banks. They were in the insurance companies, Wall Street, the GSEs, etc.

 

[Toro]

He showed that the bailouts are already larger than the bailouts in 2008 and there are likely going to be more. Dispute that with facts if you can.

This is incorrect. There have been no government bailouts thus far. What has happened is that the FDIC has taken losses. But they’ve been a fraction of the government bailouts during the GFC.

 

[g5000]

If these corporations are part of the globalism who prints fiat money out of nothing it really does not matter. They will offer one or a few of them as martyrs for the cause to make it look like we are a free people. They lose nothing. The fiat currencies printed come from us to suffer.

Ah. You must be a gold bug.

 

[g5000]

You have to look at the entire financial system. The problems weren’t just in the banks. They were in the insurance companies, Wall Street, the GSEs, etc.

Exactly, as I said in my first few posts in this topic. The 2008 crisis was primarily driven by the broker-dealers and AIG, not the banks, though banks certainly played a part. If all you look at are the bank failures for 2008, you are committing a gross oversight, which is what the writer of the blog post in the OP did.

And here we are.

 

[Foxfyre]

False. The policy is about fees, not interest rates.

The fee on borrowers with good credit is about an extra $625 for a $500,000 loan. The low risk borrower is not paying a higher interest rate.

Don't be so histrionic.

You should probably read better maybe?

 

[Foxfyre]

The bailouts are not bigger than 2008. You are both smoking crack.

Well CNN, MSNBC, NY Times, Wall Street Journal, Washington Post all say they are. So what do I know? Only what I read in the papers and see on television.

 

[Foxfyre]

This is incorrect. There have been no government bailouts thus far. What has happened is that the FDIC has taken losses. But they’ve been a fraction of the government bailouts during the GFC.

I'm only going by what I read in the papers and see on television including sources the leftists see as gospel.

 

[g5000]

I wouldn't know. I think I've heard of it but am not up on the details. But if you like it, it can't be too good of a thing.

You have not heard of Citizens United? WOW!

It is HUGELY popular with the Right.

This will help you catch up:

Citizens United v. FEC - FEC.gov

Summary of Citizens United v. FEC

www.fec.gov

You see, the Right loves Citizens United because it allows virtually unlimited political spending.

But boy oh boy did it get their dicks caught in the zipper when they found out it applies to Democratic spending, too!

 

[Toro]

I'm only going by what I read in the papers and see on television including sources the leftists see as gospel.

What you are reading is incorrect.

 

[Harpy Eagle]

So what do I know? Only what I read in the papers and see on television.

Which is your problem.

 

[Toro]

Well CNN, MSNBC, NY Times, Wall Street Journal, Washington Post all say they are. So what do I know? Only what I read in the papers and see on television.

There have been no bailouts thus far. No government funds have been used.