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

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
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A measure was repealed a decade ago that allowed any normal bank to function as an investment bank (so now, they are one and the same and no distinction should be made).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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