Why the Banks Still Aren't Fixed

US News :

The stress tests are done. The results are better than feared. Bank stocks are up. A few large lenders, such as Capital One, US Bancorp, and BB&T, are even preparing to repay billions in federal bailout money. Sounds like the bank crisis is solved!

Except for everything that could still go wrong. "Yes, everyone passed the stress test, but it was a questionable test to begin with," writes Charles Rotblut of Zacks Investment Research. "Foreclosures are still rising, credit card
defaults will get worse, and, despite all of the analysis, nobody still knows how to value the toxic assets."

Read the whole story: US News

Comments

[iridium53]

Good article. Thanks.

Why is it that Congress and Obama cannot get their act together to, at the very least, put back into place the Glass-Steagall and Glass-Steagall II acts?
Who knows?

What I see from the Obama Administration is a lot of talk. And precious little action.

George Bush used to constantly talk about how they were "working hard", and how things were "hard work."
Obama says the same things. They're working hard.
So what?
Either you get it done or you don't. And, Obama is showing he cannot get it done. So far, he doesn't seem to have the Presidential Leadership skills to execute - just what so many people feared.
All talk, no action.

[Rule Of Law]

No, they're doing lots of "action"--

They just let Timmy hire another Goldman Sachs alum...

[research]

Till we regulate back at least 20 years,

The economy has a hole at the bottom, that the Gambling Banksters are drinking whole, while main street starves. .

We need to solve the "Moral Hazard" problem:

Presecute these gambling bankster with Fraud.

[MNTom]

Why the banks still aren't fix?

Easy- You still have the same people in charge of them that caused this mess in the first place.

[iblog]

More words I'm tired of hearing:

"Captiains of Industry"

"Powers that be"

"too big to fail"

"We the People" (In slogan format)

[jdw1981]

Don't forget "oversight and accountability".

[rich misty]

http://www.mass.gov/legis/const.htm - John Adams

I like the preamble and Article VII.

[TiffanyHusseinBanned]

Has Congress launched an investigation into Wanda's unkind jokes? There should be an investigation.

I hear Wanda is gay and black.

[WLA]

Oooh... two strikes.

[CaddylackSprings]

I luv Wanda

[rich misty]

Another investigation? Birth certificate and many other Obama investigations, they want to re-investigate Clinton..

[SeconLine]

I thought Wanda went pretty easy on Rush.

[nogimmicks]

The Banks aren't still fixed because Obama had appointed their own representatives to fix themselves. No single critical and constructive voice can be found in that "team". Those crooks have two solutions to offer:
- print money give it to the banks; increase the interest payments by the Government to the Fed banks,
- take the taxpayer money and give it to the banks.
No real solution has even a remote chance to get considered.

[WeTellTheTruth]

Exactly.......

The longer this goes on..........the more people are seeing the REALITY.

[ThunderclapNewman]

So wrong on so many levels, it's hard to know where to begin.

First, the government doesn't pay interest to the Fed---never has, never will.
In fact, the Fed returns billions of dollars to the Treasury every year.

Second, no one is just taking taxpayer money and giving it to the banks.
The loans are going to be repaid.

[BurtonOerney]

Aww, that's no fun. Don't you want to talk about how the Federal Reserve was created during Woodrow Wilson's administration - the same administration that secretly created the League of Nations? The Federal Reserve must be the bank for the New World Order!

[iblog]

Wanda Sykes didn't give a jokey punch line type monologue.

It was subtle commentary in form.

But some of the statements were of a disgust on par with Snoopdog's "F*ck Bill O'Reilly!".

[lornejl]

Let's all be very sensitive in what we say, there are repubs on this board. We wouldn't want to upset their delicate sensibilities.They are quite fragile.

[ssmack]

Says who?... let us have it!... as long as you can take it in return.

[lornejl]

Deal !

[WLA]

Your Mothers dress you all funny.

[zitlight73]

Out here in the West the big banks with the aid of the FDIC are buying up small banks putting their customers, small businesses and ranchers and farmers in even more direr straits than they were before. Many of these smaller banks are on a lot firmer financial ground than the too big t fails that are buying them. The OTS gave the First Bank of Idaho until June 30th to raise $10 million to raise their capital to 12%. Just when this small bank had a $10 million investor on line over 60 FDIC agents swoop in on the bank and seized it on April 24. On the SAME day new signs were hoisted up and many of the banks 115 employees were ordered to wear new lapel pins. Put the Kool-Aid down and walk away, Obama is going to do for the big banks what Bush did for Big Oil. It's all part of an ongoing agenda, no matter which party is in office the Agenda must go forward. The president is just a figurehead and congress are puppets of big money. This has nothing to do with what is good for We the People, this is about absolute and total control. This is about creating just two classes in this country We the Peasants and our banker Overseers.

[rich misty]

http://www.google.com/search?hl=en&safe=off&q=banks+tarp+acquisitions&btnG=Search

But people make up all kinds of fantasies about Obama.

http://www.whitehouse.gov/issues/economy/

[zitlight73]

Yes, like he's an a man of his word.

[Cherubim]

"Take us the foxes, the little foxes, that spoil the vines:
for our vines have tender grapes."
from King James Bible: Song of Solomon

[ssmack]

Your point?...

[whohortonehears2]

twinkle twinkle little star...

[TiffanyHusseinBanned]

You can defend the use of tor ture, but you cannot defend an unkind joke.

That's Murrika for you.

[Minako]

Comedians are held to the highest standards of any public figures, unless the bad joke they make is funny to Boss Lim.baugh.

[lornejl]

Straight up true. Ugh.

[TiffanyHusseinBanned]

CC2,

First of all, I did not think it was funny until everyone got offended.

Secondly, who is RL supposed to be anyway?

Thirdly, he made fun of sick children and a person with Parkin son's.

Why isn't Wa nda able to take the same comedy liberties as RL? Hmm.


Che ney is defending tor ture and is being admired by many of the talking heads, but Wan da is being berated because she had the nerve to tell an unkind joke.

Ridiculous.

[WLA]

But the fatman is allowed to make fun of disabled people...

[iblog]

They're just being hysterical because people are giving them wedgies.

Same thing happened with Janeane Garofalo.

What was SO funny about that is how it was said. It was a brutal unkind truth that shut everyone up.

[Spiritgirl2]

These so-called "stress-tests" are a bogus attempt to pacify the American people! Unfortunately, the delusion that we can't let these "too big banks" fail is an anathema to the supposed "free-market"! These banks need to write down the values of these assets that they've created and be allowed to take their losses! I mean the average American must take their losses when they happen, so why can't the banks? Ooh, that's right "too big too fail", well how about we break them up, clean them up, and while we're at it - can we add some rules and regulations (more like mooring lines), to ensure non such happens again!!!!

[WeTellTheTruth]

Good points................keep speaking out.

[Moshe]

Mostly because so far there have been no meaningful consequences for the people who broke the banking system.

Quite the contrary. For the most part, they have kept their ill-gotten gains, they still get their obscene bonuses, most of them have kept their jobs, and their mismanagement and misconduct have been rewarded with an endless supply of free money from future taxpayers (most of whom are still too young to object) . It's evil genious: They have figured out how to steal from people who are not yet born.

So why would they want to "fix" something that's still working so well? (for them).

Of course it's an on-going train wreck for the rest of us, but I doubt they are losing much sleep over that.

[rich misty]

I never tell Republicans to go to h3ll... I open the windows to vent the sulfur fumes.

http://www.gallup.com/poll/118207/Republicans-Face-Steep-Uphill-Climb-Among-Women.aspx

[CheshireCat2]

IS that anything like opening the windows to let the bugs out/

[rich misty]

http://www.republicanoffenders.com/TomDelay.html

Do you know why he was called the "bugman"?