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Reply #4: As I understand it, this is wrong [View All]

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Oregone Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-22-09 11:19 AM
Response to Original message
4. As I understand it, this is wrong
Edited on Sun Feb-22-09 11:23 AM by Oregone
A measure was repealed a decade ago that allowed any normal bank to function as an investment bank (so now, they are one and the same and no distinction should be made). Of the countless bank failures, it hasn't been just the big banks at all (just the opposite, as anyone can dabble in these irresponsible practices). The last bank that failed, Silver Falls bank, was relatively small with three branches total (and if you ever have been to Silverton, you would realize how much of a small town it is). This is a true banking crisis and you are going to see small and large banks fail alike (you will just see the media report more on the big ones, as they have a larger impact).

It doesn't matter how small a bank is. In this age of corruption and incompetence, they've over played their hands, placed their bets on the over-exuberant big time local developers, dabbled in investment activities over their head, and are also just as insolvent.
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  -Isn't the "banking crisis" really and investment banking crisis? AndyHammond1970  Feb-22-09 10:53 AM   #0 
  - Yes,  Turbineguy   Feb-22-09 10:56 AM   #1 
  - Precisely.  Joe Chi Minh   Feb-22-09 10:58 AM   #2 
  - yes.  terisan   Feb-22-09 11:18 AM   #3 
  - As I understand it, this is wrong  Oregone   Feb-22-09 11:19 AM   #4 
  - Not true.  TBF   Feb-22-09 11:20 AM   #6 
     - Right....so small banks aren't failing and insolvent?  Oregone   Feb-22-09 11:25 AM   #7 
     - It wasn't just the Glass-Steagall repeal  zagging   Feb-22-09 11:28 AM   #9 
        - I realize everything is subject to collapse, but it doesn't have to be.  TBF   Feb-22-09 11:36 AM   #10 
           - I'm not determined to tie anything  zagging   Feb-22-09 11:46 AM   #11 
              - The dollar has no value due to our debt. Procuring more debt to bail out  TBF   Feb-22-09 11:56 AM   #12 
                 - I didn't say it was  zagging   Feb-22-09 02:49 PM   #15 
                    - Yes, I agree with post #14. n/t  TBF   Feb-22-09 04:43 PM   #16 
  - You are correct -  TBF   Feb-22-09 11:19 AM   #5 
  - Aw, but now that the big investment houses have been converted to federal banks, its more  Kip Humphrey   Feb-22-09 11:26 AM   #8 
  - Neither, the crises is that private and foreign lenders aren't buying securitized debt  FarCenter   Feb-22-09 12:54 PM   #13 
  - Derivative driven, meaning it's mostly speculative debt ('casino banking')  EVDebs   Feb-22-09 01:15 PM   #14 
 

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