Banking system failure: causes and options

[sealybobo]

Sealy, keep in mind the nationalization is a temporary thing...like what we normally encourage third world countries to do to stabilize their economy. The only difference being that we are now the third world country, so to speak.

btw, the link is just audio...I tried to find a transcript but I guess you have to pay for it.

Is there any reason why The People can't own dividend paying common stock in these corporations?

If We The People owned 1/3 of CHASE and our representatives voted those shares according to the will of their constituents, wouldn't that be a good thing?

-Joe

Thanks Joe. Great question. This is why the GOP has been telling us for 40 years that government is the enemy. The government is the problem, not the solution. Right? Isnt' that what Reagan said?

So now we realize the bankers, oil men and unregulated corporations are what is really wrong with our country. And our founding fathers even warned us.

But since reagan, the GOP and corporate media has been telling us that government is the problem.

So now they are confused. Either Ron Paul is right, and we need our government to take the Federal Reserve away from the richest bankers in the world, or, we need the governmet to back the fuck off and let these bankers finish the job they started.

 

[Richard-H]

I think that 'Nationalization', in the usual sense of the word, is moot at this point. The banks for the most part are worthless, so there's nothing to 'Nationalize'.

It's time that the government stop the 'Banking Salvage' operation that they've been attempting since last September. It just plain hasn't worked.

It's bankruptcy and liquidation time, with the government at the front of the line for reclaiming whatever there is left.

What the government really should be doing is figuring out, first how to step in and provide the services that the banks used to provide, and second how to quickly build a new banking system.

Third, the government should organize all stock holders and everyone else who's suffered from this into a massive class action law suit against the current and former executives of these banks.

 

[sealybobo]

I think that 'Nationalization', in the usual sense of the word, is moot at this point. The banks for the most part are worthless, so there's nothing to 'Nationalize'.

It's time that the government stop the 'Banking Salvage' operation that they've been attempting since last September. It just plain hasn't worked.

It's bankruptcy and liquidation time, with the government at the front of the line for reclaiming whatever there is left.

What the government really should be doing is figuring out, first how to step in and provide the services that the banks used to provide, and second how to quickly build a new banking system.

Third, the government should organize all stock holders and everyone else who's suffered from this into a massive class action law suit against the current and former executives of these banks.

Yea, fuck the banks. I want our government to control the banking system, not just the banks.

What did Rothschilds say, "give me control of a nations finances and I care not who makes its laws".

So clearly it is the Federal Reserve we need to take back. JP Morgan and Rockafellor stole the Federal Reserve from the US in 1913, and it is time to take it back.

No other action is going to fix the problem we are in because the problem is that these rich bankers own our country.

Don't you think the government should be in charge of the Federal Reserve and not the bankers that own the banks?

I don't give a rats ass about the banks. The banks answer to the Federal Reserve. The Federal Reserve sets interest, deals with inflation/deflation. These rich bankers have fucked with the system for long enough, for their benefit, not ours.

Time to nationalize the Federal Reserve.

Right now when AIG fails, the Federal Reserve basically failed too. And who bailed out AIG? The Federal Reserve you say? Who gave them permission? No one? They just gave AIG millions without asking Congress?

This is before the $750 billion bush asked for. Do you remember AIG failed and the Fed bailed them out without even asking? Most people don't.

 

[Peejay]

This is it. The Fed has to go. Doesn't matter which party you belong to. Ron Paul is a little Kooky but who else do you hear addressing this ?

If the people of the United States gave the same attention to the people who purchase $100 bills for a few cents, as they do to illegal aliens, you would see some serious changes with real impact. The Fed has been recognized as a serious problem since the day it was born, by those who understand it. Time for more people to understand it. Stop whining about the dirt poor, hand to mouth, welfare recipients taking something they didn't earn and start taking a look at the friggin' elephant in the room. Anyone know where I can buy $100 bills for a couple dimes ?

 

[wimpy77]

you said it ron paul is a kook. and people who say kill the banking system have no idea what you're talking about.

i do think that citi and aig should be forced to liquidate.

 

[Valerie]

Here's a great program explaining the banking system, what went wrong, and what various fixes would accomplish.

Lots of blame to go around for those that like to point fingers.

After listening to this I am leaning toward nationalizing the banks long enough to clean them up.

This American Life

click on Full Episode under the picture of the piggy

I listened to the entire thing. Well worth listening to, thanks!

Sounds like they want to give it some more time to see how much of these toxic assets the market will absorb naturally without intervention. They say if solvency is still unachievable the government should take over the banks only very temporarily in order to find the best way to purge the toxic assets as well as the bad managers all at once. The goal being to clean everything up and privatize the banks again right away with new management, new shareholders and a new balance sheet and tighter lending standards going forward.

 

[Peejay]

you said it ron paul is a kook. and people who say kill the banking system have no idea what you're talking about.

i do think that citi and aig should be forced to liquidate.

Unfortunately, the mainstream guys won't touch this. Guess it might take a kook. What really blows my mind is all of these "duct tape" ideas. nationalize and then reprivatize, liquidate, let the market run itself.........bullshit. Explain to me how the Federal Reserve is Constitutional first, then get on with explaining to me how you plan to ever repay any amount of debt to them. Can't be done. Why do you want a central bank that is founded on the very principle of perpetual debt, virtual slavery, of the republic ?

 

[AVG-JOE]

Sealy, keep in mind the nationalization is a temporary thing...like what we normally encourage third world countries to do to stabilize their economy. The only difference being that we are now the third world country, so to speak.

btw, the link is just audio...I tried to find a transcript but I guess you have to pay for it.

Is there any reason why The People can't own dividend paying common stock in these corporations?

If We The People owned 1/3 of CHASE and our representatives voted those shares according to the will of their constituents, wouldn't that be a good thing?

-Joe

Thanks Joe. Great question. This is why the GOP has been telling us for 40 years that government is the enemy. The government is the problem, not the solution. Right? Isnt' that what Reagan said?

So now we realize the bankers, oil men and unregulated corporations are what is really wrong with our country. And our founding fathers even warned us.

But since reagan, the GOP and corporate media has been telling us that government is the problem.

So now they are confused. Either Ron Paul is right, and we need our government to take the Federal Reserve away from the richest bankers in the world, or, we need the governmet to back the fuck off and let these bankers finish the job they started.

Would it be possible for The People of The Great State of Michigan to say 'fuck that shit' to a proposal by the board of directors of GM to move jobs to Mexico if they represented a 1/3 interest in GM?

-Joe

 

[AVG-JOE]

I think that 'Nationalization', in the usual sense of the word, is moot at this point. The banks for the most part are worthless, so there's nothing to 'Nationalize'.

It's time that the government stop the 'Banking Salvage' operation that they've been attempting since last September. It just plain hasn't worked.

It's bankruptcy and liquidation time, with the government at the front of the line for reclaiming whatever there is left.

What the government really should be doing is figuring out, first how to step in and provide the services that the banks used to provide, and second how to quickly build a new banking system.

Third, the government should organize all stock holders and everyone else who's suffered from this into a massive class action law suit against the current and former executives of these banks.

Do you guys think We, The People have enough cabbage between us to start a credit union?

-Joe

 

[wimpy77]

Here's a great program explaining the banking system, what went wrong, and what various fixes would accomplish.

Lots of blame to go around for those that like to point fingers.

After listening to this I am leaning toward nationalizing the banks long enough to clean them up.

This American Life

click on Full Episode under the picture of the piggy

I listened to the entire thing. Well worth listening to, thanks!

Sounds like they want to give it some more time to see how much of these toxic assets the market will absorb naturally without intervention. They say if solvency is still unachievable the government should take over the banks only very temporarily in order to find the best way to purge the toxic assets as well as the bad managers all at once. The goal being to clean everything up and privatize the banks again right away with new management, new shareholders and a new balance sheet and tighter lending standards going forward.

i think they too are trying to see how much of this will solve itself and i think they are using the stress tests to see who will need to be taken over on a temporary basis.

 

[AVG-JOE]

you said it ron paul is a kook. and people who say kill the banking system have no idea what you're talking about.

i do think that citi and aig should be forced to liquidate.

Insurance is weird. Auto insurance I understand, but if I need to see a doctor, why does an insurance executive get a bonus? Wouldn't it make more sense to pay the health care system directly? We'd probably get less paper in the mail...

Sometimes I imagine we look pretty stupid from space.

 

[wimpy77]

i have a question at some the government is going to take those bad assests off the banks books. they are going to be bought by what the government hopes are people with money.

my question is won't the tax increase remove the incentative for those guys to buy those assests.

 

[B94]

Banking system failure: causes and options

It’s my contention that there is no Banking system failure. The Biggest bankers are raking in the profits at new highs. Some call one of their central banks the Federal Reserve. These bankers probably aren’t all Americans and don’t care about the American people. All they care about is themselves and increasing their power.
Does anyone really think the financial crisis or this recession were a product of chance that just happens to leave the bankers that own the Federal Reserve raking in profits?
I believe it was created to have the exact outcome we are seeing.

Giving the central banks power over our currency is not in our best interest but this could not happen and continue if our own government was not corrupt. The only way I see to fix this is to kick out the FED and elect some honest people to replace the crooks that are now our politicians.

I’ve heard both political parties talk about a one world government/new world order that will surely be run by the same people that control the central banks. This needs to be STOPPED!!!

 

[Ravi]

Here's a great program explaining the banking system, what went wrong, and what various fixes would accomplish.

Lots of blame to go around for those that like to point fingers.

After listening to this I am leaning toward nationalizing the banks long enough to clean them up.

This American Life

click on Full Episode under the picture of the piggy

I listened to the entire thing. Well worth listening to, thanks!

Sounds like they want to give it some more time to see how much of these toxic assets the market will absorb naturally without intervention. They say if solvency is still unachievable the government should take over the banks only very temporarily in order to find the best way to purge the toxic assets as well as the bad managers all at once. The goal being to clean everything up and privatize the banks again right away with new management, new shareholders and a new balance sheet and tighter lending standards going forward.

Thanks...I didn't understand the ins and outs of the banking system but this made it pretty clear. I think there is no good answer to the problem but hopefully after it is worked out we'll have a few more safeguards in place.

 

[AVG-JOE]

Banking system failure: causes and options

It’s my contention that there is no Banking system failure. The Biggest bankers are raking in the profits at new highs. Some call one of their central banks the Federal Reserve. These bankers probably aren’t all Americans and don’t care about the American people. All they care about is themselves and increasing their power.
Does anyone really think the financial crisis or this recession were a product of chance that just happens to leave the bankers that own the Federal Reserve raking in profits?
I believe it was created to have the exact outcome we are seeing.

Giving the central banks power over our currency is not in our best interest but this could not happen and continue if our own government was not corrupt. The only way I see to fix this is to kick out the FED and elect some honest people to replace the crooks that are now our politicians.

I’ve heard both political parties talk about a one world government/new world order that will surely be run by the same people that control the central banks. This needs to be STOPPED!!!

I think you're right... the problem isn't banking per se, the problem is trying to run a planet with 'greed' as the practical 'vision for the future'.

You are also right that the vision is held and protected by more than just Americans - The powerful families that launched the conquest of Earth by Western Civilization from Europe over the last 500 years are still in control for now, but revolution by the peasants is not new.

Now, if we can just bitch-slap the 'greed' out of Western 'Civilization' without killing ourselves, our children might reach the stars.

-Joe