AMERICAblog: Banks not giving loans, despite free money from taxpayers
jr
· 1 year ago
Second gilded age fun. The multimillionaire cable news pundits distract us with "culture war" claptrap while we're robbed blind by Wall St
HereinDC
· 1 year ago
The banks are holding onto the money and making profits just by holding/floating the money they received....It's called kiting
kiting - definition of kiting - Illegally benefiting from float, for example by depositing and drawing checks between accounts at two or more banks.
devis1
· 1 year ago
There will be lots of lower level employees let go to continue paying those bonuses. Convince those remaining that if they work really hard.... Same thing happened in the early 90's.
KerrynowCampau
· 1 year ago
Sharpen the guillotines!!
Andrew
· 1 year ago
There is a solution, but apparently no one in office or running for office has the balls to do it. If a bank is bailed out using US taxpayer money, they have an option. You can either start lending money for personal and commercial loans or you can close your doors and be taken over by the US Treasury, be turned into a US Treasury bank as we had prior to 1933 with new Treasury dollars backed by gold and silver. Bet that would grab them by the short hairs fast enough to change their ways. Actually, the government should do it anyway. Fiat is dead and so is this economy. The Federal Reserve was a lousy experiment for the last 100 years, but it's time to move on and back to sound money principals.
jimpharo
· 1 year ago
Isn't this the same as the whole concept of "tax cuts for the rich = jobs"?
I was always struck by the lack on any commitment on the part of those receiving the cuts -- just hope and economic theory...
Accountability is for poor people...
Andrew
· 1 year ago
There is no way the US economy, which has never been more dependent on debt to generate GDP, can flourish without an enormous amount of debt creation. If debt is now being curtailed or rationed by banks, there can be only one direction for the US economy and that is down. Morgan Stanley economist Richard Brenner: DISCONNECT - The economic fallout begins: Financial turmoil peaked six weeks ago, but the economic downturn is only beginning. It’s still a recession, in our view, and that’s no longer in the price. Indeed, reflecting higher energy quotes and slipping growth abroad, we see weaker US growth over the next few quarters than we did a month ago. The Times of London: After the crunch, a crisis in banking confidence Credit risk – that of borrowers not repaying loans – was cited as the next-biggest risk after liquidity. Consumer indebtedness was also a worry. A senior banker in an American bank said: "Consumers are in worse shape than most observers appreciate … their failure rate will look like a tsunami to those lollygagging on the financial beaches."
http://business.timesonline.co.uk/tol/business/... sectors/banking_and_finance/article3876856.ece Newsweek: Down on Its Luck - Las Vegas used to be a recession-proof oasis. Not anymore. [That’s because this is not a normal recession and US economic data is so fraudulent most people don’t understand how bad things are until it bites them.] According to the Las Vegas Convention and Visitors
All Comments
kiting - definition of kiting - Illegally benefiting from float, for example by depositing and drawing checks between accounts at two or more banks.
I was always struck by the lack on any commitment on the part of those receiving the cuts -- just hope and economic theory...
Accountability is for poor people...
Morgan Stanley economist Richard Brenner: DISCONNECT - The economic fallout begins: Financial turmoil peaked six weeks ago, but the economic downturn is only beginning. It’s still a recession, in our view, and that’s no longer in the price. Indeed, reflecting higher energy quotes and slipping growth abroad, we see weaker US growth over the next few quarters than we did a month ago.
The Times of London: After the crunch, a crisis in banking confidence Credit risk – that of borrowers not repaying loans – was cited as the next-biggest risk after liquidity. Consumer indebtedness was also a worry.
A senior banker in an American bank said: "Consumers are in worse shape than most observers appreciate … their failure rate will look like a tsunami to those lollygagging on the financial beaches."
http://business.timesonline.co.uk/tol/business/...
sectors/banking_and_finance/article3876856.ece
Newsweek: Down on Its Luck - Las Vegas used to be a recession-proof oasis. Not anymore. [That’s because this is not a normal recession and US economic data is so fraudulent most people don’t understand how bad things are until it bites them.] According to the Las Vegas Convention and Visitors