Comments are closed for this entry
View All
Favorites
Bloggers
Recency  | 
Popularity
Page:  « First  ‹ Previous  1 2 3 4 5  Next ›  Last »  (6 total)
HUFFPOST SUPER USER
Kye154
01:30 PM on 01/04/2011
There is not a single major bank in this country, which is not in trouble. The stress tests that FDIC conducts, is not foolproof, as it has actually let Bank of America and others to get by with alot of things to cause Bank of America to worry about what Wikileaks might reveal about them that federal regulators let slip by. The mortgage mess is just the tip of the iceberg and a prelude to what is about to happen. The banking crash is inevitable, the only two questions at this point is: When it will happen? And, are all you stockholders and clients with accounts and mortgages at these banks ready to take it on the chin when the bottom falls out of the banks?
photo
Artos
Down with Tyrants
01:05 PM on 01/04/2011
  Bank of America may well "Crash" but it won't die. It will continue to live on with yet another name, just as the Bank of the Nation did when it first bought out BofA and changed it's name. The same people continue to run the show or move on like locusts to yet another bank, always ready to consume it and wreak their havoc. 
  As for the Stress Tests and covering them up, this is typical of a Government in league with the Corporations and whose motto is "When in doubt Lie".
  Cities may very well end up bankrupt and this too is an indication that Nature will not tolerate rampant growth because it is like cancer, a disease that needs treating or else the Body will die. We should never have made our Cities so huge in the first place. 
  Finally, as I have made mention before, none of this is an accident. All of it is what I refer to as Social Engineering. That's why they created Think Tanks. These hives of scheming have thought all of these scenarios out and decided that this is their best means of whittling down the populace and creating their desired Social Changes. IF you think about it, every one of these catastrophes will create some resultant 
change. Change that benefits someone, perhaps not the average Citizen but it will bring about changes. Whether good or bad remains to be seen. If our society collapses we should all be watchful of who jumps ship. If we're smart we will see to it that those responsible for this Social Engineering take on their fair share of the pain involved in this Chaos that they will have engineered.
This user has chosen to opt out of the Badges program
photo
01:31 PM on 01/04/2011
Yes, Artos, that is exactly what "they" are: locusts. Strip and decimate everything in their path.
HUFFPOST SUPER USER
Jophoenix
02:07 PM on 01/04/2011
The Government recives operation money from tax payers. We own the government not the government owns us. That said, stress test cost money, our money, we who pay can demand to see what WE paid for!!! As long as we tax payers see ourselfs as a country ran by a dictator ship this is what we will get.
This is our country we have a voice and we must use it. If we do not use our voice, indeed our rights will continue to taken away!! I for one will e-mail my reps today and alson alert my state government that National Banks that operate in my state must open the report that I'm paying for I have a right to KNOW!!! And dont you think it abit strange that our reps have not taken a pay cut like the rist of us???
01:02 PM on 01/04/2011
The "Accounting Tricks" are be fostered upon us by Congress and not the FASB. When competent Accountants wanted to revalue these toxic assets at fair market value to clean up the bookkeeping, Congress pressured FASB to change the rules. When things blow up next time, you will know who to blame.
HUFFPOST SUPER USER
Jophoenix
02:09 PM on 01/04/2011
Congress is paying there bill with our money they are accountable to US and its time we stood up and said it!!
12:51 PM on 01/04/2011
Large banks can more easily cover the cost of additional regulations. It seems that it wasn't a lack of regulations that caused many of the issues, but rather not enforcing the ones we had. The increased regulation load will clearly favor larger institutions.

If you pump billions of new dollars into the system, it will create inflation (not only in the housing market, which is the intention of the easing, but also in commodity markets). The increased value of oil, copper, silver...well anything but dollars ...is a natural and predictable result of printing more money.

All of the new regulations and requirements on mortgages will increase the costs (artificially low now due to the quantitative easing). That may be okay. A simpler means would have been requiring banks to hold all or a significant portion of their mortgage portfolio. Unfortunately the government rarely does simple.
HUFFPOST SUPER USER
Jophoenix
02:18 PM on 01/04/2011
Exactly and Tim Geithner said at the on national tevelsion that HE AS TREASURE OF THE NEW YOUR FED HE WAS NOT IN CHARGE OF REGULATION !! I went on line to his job outline in he is wrong. If I fail to do my job I'm let go why is our government not holding ANYONE ACCOUNTABLE??
Its our money.
photo
HUFFPOST SUPER USER
tlcpro
Work is not work when you love what you do.
12:42 PM on 01/04/2011
I think all of the banks should be broken into small institutions and forced to lend. The government would have served the people better if the TARP funds would have gone directly to the tax payers who supplied the cash to begin with. Make the banks suck it up. Forgive underwater mortgages so people can stay in their homes. Make the CEOs use their bonus checks to pay back investors.
12:32 PM on 01/04/2011
I think the author greatly underestimates the ability of the WS / WA axis to extend, pretend and spin.
The author also underestimates the willingness of the public to believe in it (just look at the numbers of articles in this blog worshiping the heroes protecting our freedom).
Hence, I don't give much credit to these predictions but for the gasoline price. This factor will shock the middle class this year. Banks? Business as usual.
12:26 PM on 01/04/2011
Not much will happen in 2011 or 2012....Big banks will survive and prosper. Pres Obama will be reelected in 2012 since he is a team player.The big banks own the US government well as all foreign governments. They control the currency and all transactions. They control the elections since they own the msm. The banks never thought the music would stop so abrubtly, but knew when it did, their government appointees would bail them out.
Banks are above the law. No politicians dem or repub are ever going to demand prosecution of bank officials because they are just as guilty. Banks have been shredding all the incriminating Mers Papers well as fraudulant loan documents. The big banks will weather this storm and the small banks that supply needed capital to small and medium size biz will continue to shrink. Global banks will continue to focus and fund developing economies that insure the highest rate of returns.
12:15 PM on 01/04/2011
Yep ... #6 ... that's why I sold our previous home for the minimum price I could technically accept and still pay off the home equity line! I was terrified the GOP with all the shenanigans they intend to stir up would make it such that I'd NEVER be able to sell our previous home for anything close to what it would cost to build it, let alone being able to recoup the cost of the lot it was built on.
lastpost
see biography
11:41 AM on 01/04/2011
“concealed deeper problems”
Every day seems to bring new disclosures or else new law suits. Sequentially peeling back the decaying dermis stretched over this septic carbuncle. For how much longer will those in authority continue to cling to a belief, that they can cover anything up if they have to? If this isn’t lanced by a transparency probe soon, there is likely to be one heck of outpouring eventually. It has been suggested that States raise and control their own funding. Cutting out borrowing from banks, and acting in a non-profit making capacity. Forming a co-operative closed-loop partnership with their own citizens. That way, the banks might have their capacity to cripple to some extent curtailed.
HUFFPOST SUPER USER
Jophoenix
02:22 PM on 01/04/2011
this goes on till we hit the streets or e-mail the massage to the fools that if they dont open the books we wll act
HUFFPOST SUPER USER
johnminehan
11:32 AM on 01/04/2011
Couple of thoughts:

---Let the big banks fail: the ultimate result will be more, smaller banks operating on a sounder basis.

---Because the ultimate issue is the debt, and a mortgage is just one way to secure the debt, all those houses will be lost if a deal isn't made. It's in the banks' interest to make deals, they lend money and don't sell houses, but the rule of law issue is that the debt is still good. Banks will have to use things like account stated, but they still get their money.

---If gas gets to $4/gallon the economy will slow and gas prices will dip then. Less than in late '08, as our economy is less central and global demand will still be high.

---Bankrupt cities and counties are a non-problem. There is a Chapter in the Code. Bankrupt states are the worst parts of the Bible. No Chapter in the Code. If the Feds do "too big to fail" they tank the country. Have to let the bond vigillanties rein them in.
11:10 AM on 01/04/2011
In fact we had good and effective financial laws and regulations in place right after the Great depression. But in time, Uncle Reagan, and his Right-Wing ideology Deregulation/the Govt.-- is --the--Problem, came to town(Washington, D.C.) in 1980 and started to unravel them regulations. This grotesque and pernicious ideology also infected the Democrats, as Clinton and his gang undid many important financial regulations in the 90's; Wall Street essentially corrupted and bought politicians to allow them to loot the whole economy. In the end, we have what we have right now -- A Very Bad Economy for the Rest and Very Bountiful for Wall Street and the Rich! Isn't It Hight Time That We Must Bring The Responsible Criminals To Face Justice?
11:38 AM on 01/04/2011
Won't happen, lessons were learned how to skirt justice after the S&L debacle.
HUFFPOST SUPER USER
Jophoenix
02:32 PM on 01/04/2011
It wont happen as long as we do nothing "The Anti American Manifesto" is the most American book you can read todat it's by Ted Rall because if we keep going as we are we will lose our Country.
Indeed the media touts out Bill Clinton rearly questing the Glass/Siegle act he let get changed lat at night his answer was he wanted it monitored that took place the last Nov of his office so how could it have happen he wasnt thie and we the folks know did;nt even know that it had happened. As longe as we do nothing this will continue. This is not working well for me how about you in yours.
photo
HUFFPOST SUPER USER
Jason Hollis
Electronic musician and opinionated progressive li
11:02 AM on 01/04/2011
A modest proposal:

Arm the unemployed.
Point them at Wall Street.

Turnabout, after all, is fair play.
photo
HUFFPOST SUPER USER
Jason Hollis
Electronic musician and opinionated progressive li
10:46 AM on 01/04/2011
Oh, increasing gas prices are due to "speculation", not supply and demand again, eh?
http://www.consensus-inc.com/002001i/knay1537/fin-com/1223fm-05.pdf

I wonder how many times that one will work before people stop believing it.
11:59 AM on 01/04/2011
If you read the report on your link, you'll see that the price per barrel right now is above DB predictions based on supply and was even higher at the end of 2010- so - where's that extra $ per barrel coming from if not speculation? The report takes into account quantitative easing.
12:43 PM on 01/04/2011
The silver lining is, when gas gets too high, at $4.00/gal alternatives become competitive. It could be the best thing to happen in the US for the long haul. The price is high, but the money stays in the US economy, not going to Saudi Arabia.
10:42 AM on 01/04/2011
In Vegas, there is an actual Gaming Commission. On Wall Street, not so much. Both offer losing propositions to those who are not insiders, but at least in Vegas it is possible to know the odds.
11:40 AM on 01/04/2011
Bravo!!!
01:04 PM on 01/04/2011
Even organized crime must marvel at the scams Wall Street is running.
photo
HUFFPOST COMMUNITY MODERATOR
TXfemmom
Grandma with eye on the future
10:26 AM on 01/04/2011
Our system just has no provisions to provide for safety and fairness in our banking system or runaway capitalism period.  The commody trading situation should have had transparency and some basic controls applied long ago.
photo
Artos
Down with Tyrants
01:13 PM on 01/04/2011
Power does not Corrupt, Power is merely a tool, It is Corrupt Individuals who are motivated to seek Power, therefore when the upper strata of a nations institutions become riddled with Corrupt Individuals, that Society has doomed itself.
HUFFPOST SUPER USER
Jophoenix
02:48 PM on 01/04/2011
It's OUR SYSTEM FDR put in place laws to protect us and we have voted them out one by one. And we cant put them back now.