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Sorry, Todd, every time you go to the gas pump you pay about a buck fifty too much for gasoline PER GALLON, because of Jamie Dimon and the investment banks that have the oil market cornered. Wikileaks revealed that the Saudis warned the US government when oil went to $147 per barrel, that the TBTF banks pushed up the price. The fake trades at the CME are CRIMINAL in that they causes direct theft every time you fill up or buy something at the store except for onions, which Eisenhower blocked from futures speculation when it was believed someone cornered the market back in teh 1950's.
A trader went on CNBC years ago and said the bankers controlled the petroleum market. You pay a buck fifty more per gallon than you should according to the trader. I gave you a link to my take on this but here is the direct link regarding fake trades. And why do you think that stealing the algorithms at GS got that trader severe penalties. Anyway, here is the link to the article on fake trades: The Banksters Master Program For Manipulating Markets ETF DAILY NEWS That is not exactly a blazing conspiracy website, Todd. You know, Todd is my least favorite male name. You know, Todd and Penelope. I don't like either as they reek of privilege: Trading Places Script - transcript from the screenplay and or Eddie Murphy and Dan Aykroyd movieSorry, Todd, every time you go to the gas pump you pay about a buck fifty too much for gasoline PER GALLON, because of Jamie Dimon and the investment banks that have the oil market cornered. Wikileaks revealed that the Saudis warned the US government when oil went to $147 per barrel, that the TBTF banks pushed up the price. The fake trades at the CME are CRIMINAL in that they causes direct theft every time you fill up or buy something at the store except for onions, which Eisenhower blocked from futures speculation when it was believed someone cornered the market back in teh 1950's.
Sorry, Todd, every time you go to the gas pump you pay about a buck fifty too much for gasoline PER GALLON, because of Jamie Dimon and the investment banks that have the oil market cornered.
Can you explain how they cornered a global market with over 80 million bpd of production, hopefully without using the word Zionist?
The fake trades at the CME are CRIMINAL
Post your proof of fake trades.
A trader went on CNBC years ago and said the bankers controlled the petroleum market. You pay a buck fifty more per gallon than you should according to the trader. I gave you a link to my take on this but here is the direct link regarding fake trades. And why do you think that stealing the algorithms at GS got that trader severe penalties. Anyway, here is the link to the article on fake trades: The Banksters Master Program For Manipulating Markets ETF DAILY NEWS That is not exactly a blazing conspiracy website, Todd. You know, Todd is my least favorite male name. You know, Todd and Penelope. I don't like either as they reek of privilege: Trading Places Script - transcript from the screenplay and or Eddie Murphy and Dan Aykroyd movieSorry, Todd, every time you go to the gas pump you pay about a buck fifty too much for gasoline PER GALLON, because of Jamie Dimon and the investment banks that have the oil market cornered. Wikileaks revealed that the Saudis warned the US government when oil went to $147 per barrel, that the TBTF banks pushed up the price. The fake trades at the CME are CRIMINAL in that they causes direct theft every time you fill up or buy something at the store except for onions, which Eisenhower blocked from futures speculation when it was believed someone cornered the market back in teh 1950's.
Sorry, Todd, every time you go to the gas pump you pay about a buck fifty too much for gasoline PER GALLON, because of Jamie Dimon and the investment banks that have the oil market cornered.
Can you explain how they cornered a global market with over 80 million bpd of production, hopefully without using the word Zionist?
The fake trades at the CME are CRIMINAL
Post your proof of fake trades.
One more thing, Todd. Interest rate swap scam, the biggest bankster scam, works like this. The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap. They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating. But the Fed always watches the backs of the banks and the swaps nearly always win for them, unless LIBOR gets higher than the swap rate, which is what happened in the Great Recession.
I know the loan is not a swap. But to qualify for the loan, the company is forced to take a swap. Banks are predominantly on the floating, low interest side of the trade because the government or medium sized business fears the floating rate, fearing inflation and rising interest rates that never come! PIMCO Investment Basics - What Are Interest Rate Swaps and How Do They WorkOne more thing, Todd. Interest rate swap scam, the biggest bankster scam, works like this. The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap. They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating. But the Fed always watches the backs of the banks and the swaps nearly always win for them, unless LIBOR gets higher than the swap rate, which is what happened in the Great Recession.
The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap.
A loan isn't a swap.
They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating.
I guess you could say that deposit accounts have a floating rate. So what? That still isn't a swap.
But the Fed always watches the backs of the banks and the swaps nearly always win for them,
Most interest rate swaps have banks on both sides of the trade. Do you feel the Fed makes both sides win?
I know the loan is not a swap. But to qualify for the loan, the company is forced to take a swap. Banks are predominantly on the floating, low interest side of the trade because the government or medium sized business fears the floating rate, fearing inflation and rising interest rates that never come! PIMCO Investment Basics - What Are Interest Rate Swaps and How Do They WorkOne more thing, Todd. Interest rate swap scam, the biggest bankster scam, works like this. The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap. They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating. But the Fed always watches the backs of the banks and the swaps nearly always win for them, unless LIBOR gets higher than the swap rate, which is what happened in the Great Recession.
The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap.
A loan isn't a swap.
They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating.
I guess you could say that deposit accounts have a floating rate. So what? That still isn't a swap.
But the Fed always watches the backs of the banks and the swaps nearly always win for them,
Most interest rate swaps have banks on both sides of the trade. Do you feel the Fed makes both sides win?
From Pimco:
The counterparties in a typical swap transaction are a corporation, a bank or an investor on one side (the bank client) and an investment or commercial bank on the other side. After a bank executes a swap, it usually offsets the swap through an interdealer broker and retains a fee for setting up the original swap. If a swap transaction is large, the interdealer broker may arrange to sell it to a number of counterparties, and the risk of the swap becomes more widely dispersed. This is how banks that provide swaps routinely shed the risk, or interest-rate exposure, associated with them.
Initially, interest rate swaps helped corporations manage their floating-rate debt liabilities by allowing them to pay fixed rates, and receive floating-rate payments. In this way, corporations could lock into paying the prevailing fixed rate and receive payments that matched their floating-rate debt. (Some corporations did the opposite – paid floating and received fixed – to match their assets or liabilities.) However, because swaps reflect the market’s expectations for interest rates in the future, swaps also became an attractive tool for other fixed-income market participants, including speculators, investors and banks.
As a result, the swap market has grown immensely in the past 20 years or so; the notional dollar value of outstanding interest rate swaps globally was $230 trillion at the end of 2006, according to the Bank for International Settlements. Swap volume is termed “notional” because principal amounts, although included in total swap volume, are never actually exchanged. Only interest payments change hands in a swap, as described below.
I know the loan is not a swap. But to qualify for the loan, the company is forced to take a swap. Banks are predominantly on the floating, low interest side of the trade because the government or medium sized business fears the floating rate, fearing inflation and rising interest rates that never come! PIMCO Investment Basics - What Are Interest Rate Swaps and How Do They WorkOne more thing, Todd. Interest rate swap scam, the biggest bankster scam, works like this. The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap. They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating. But the Fed always watches the backs of the banks and the swaps nearly always win for them, unless LIBOR gets higher than the swap rate, which is what happened in the Great Recession.
The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap.
A loan isn't a swap.
They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating.
I guess you could say that deposit accounts have a floating rate. So what? That still isn't a swap.
But the Fed always watches the backs of the banks and the swaps nearly always win for them,
Most interest rate swaps have banks on both sides of the trade. Do you feel the Fed makes both sides win?
From Pimco:
The counterparties in a typical swap transaction are a corporation, a bank or an investor on one side (the bank client) and an investment or commercial bank on the other side. After a bank executes a swap, it usually offsets the swap through an interdealer broker and retains a fee for setting up the original swap. If a swap transaction is large, the interdealer broker may arrange to sell it to a number of counterparties, and the risk of the swap becomes more widely dispersed. This is how banks that provide swaps routinely shed the risk, or interest-rate exposure, associated with them.
Initially, interest rate swaps helped corporations manage their floating-rate debt liabilities by allowing them to pay fixed rates, and receive floating-rate payments. In this way, corporations could lock into paying the prevailing fixed rate and receive payments that matched their floating-rate debt. (Some corporations did the opposite – paid floating and received fixed – to match their assets or liabilities.) However, because swaps reflect the market’s expectations for interest rates in the future, swaps also became an attractive tool for other fixed-income market participants, including speculators, investors and banks.
As a result, the swap market has grown immensely in the past 20 years or so; the notional dollar value of outstanding interest rate swaps globally was $230 trillion at the end of 2006, according to the Bank for International Settlements. Swap volume is termed “notional” because principal amounts, although included in total swap volume, are never actually exchanged. Only interest payments change hands in a swap, as described below.
I know the loan is not a swap. But to qualify for the loan, the company is forced to take a swap. Banks are predominantly on the floating, low interest side of the trade because the government or medium sized business fears the floating rate, fearing inflation and rising interest rates that never come! PIMCO Investment Basics - What Are Interest Rate Swaps and How Do They WorkOne more thing, Todd. Interest rate swap scam, the biggest bankster scam, works like this. The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap. They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating. But the Fed always watches the backs of the banks and the swaps nearly always win for them, unless LIBOR gets higher than the swap rate, which is what happened in the Great Recession.
The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap.
A loan isn't a swap.
They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating.
I guess you could say that deposit accounts have a floating rate. So what? That still isn't a swap.
But the Fed always watches the backs of the banks and the swaps nearly always win for them,
Most interest rate swaps have banks on both sides of the trade. Do you feel the Fed makes both sides win?
From Pimco:
The counterparties in a typical swap transaction are a corporation, a bank or an investor on one side (the bank client) and an investment or commercial bank on the other side. After a bank executes a swap, it usually offsets the swap through an interdealer broker and retains a fee for setting up the original swap. If a swap transaction is large, the interdealer broker may arrange to sell it to a number of counterparties, and the risk of the swap becomes more widely dispersed. This is how banks that provide swaps routinely shed the risk, or interest-rate exposure, associated with them.
Initially, interest rate swaps helped corporations manage their floating-rate debt liabilities by allowing them to pay fixed rates, and receive floating-rate payments. In this way, corporations could lock into paying the prevailing fixed rate and receive payments that matched their floating-rate debt. (Some corporations did the opposite – paid floating and received fixed – to match their assets or liabilities.) However, because swaps reflect the market’s expectations for interest rates in the future, swaps also became an attractive tool for other fixed-income market participants, including speculators, investors and banks.
As a result, the swap market has grown immensely in the past 20 years or so; the notional dollar value of outstanding interest rate swaps globally was $230 trillion at the end of 2006, according to the Bank for International Settlements. Swap volume is termed “notional” because principal amounts, although included in total swap volume, are never actually exchanged. Only interest payments change hands in a swap, as described below.
Further from Pimco:
The “swap rate” is the fixed interest rate that the receiver demands in exchange for the uncertainty of having to pay the short-term LIBOR (floating) rate over time. At any given time, the market’s forecast of what LIBOR will be in the future is reflected in the forward LIBOR curve.
At the time of the swap agreement, the total value of the swap’s fixed rate flows will be equal to the value of expected floating rate payments implied by the forward LIBOR curve. As forward expectations for LIBOR change, so will the fixed rate that investors demand to enter into new swaps. Swaps are typically quoted in this fixed rate, or alternatively in the “swap spread,” which is the difference between the swap rate and the U.S. Treasury bond yield (or equivalent local government bond yield for non-U.S. swaps) for the same maturity. Swap spreads are discussed in more detail in the next section.
I put together a chart, showing libor rates versus swap rates. The banks became insolvent when the LIBOR rate became higher than the swap rate. Look at the chart here: Examples of Globalization Austerity Is Placed on America in Three Crucial Ways
I occasionally contribute to Seeking Alpha as Gary A, and have written that the Savings and Loans went bust because they loaned money and then Volcker raised interest rates higher than their return on the loans. Greenspan observed all of this. Greenspan then was determined to fashion a system where banks would be protected. It worked well until interest rates went up and they may go up a little again, needing bailins, as Fischer has said, with less government bailouts.
Banks, if you look at my chart, are predominantly on the floating, LIBOR side of the swap. You can see what happened to the banks when LIBOR spiked. They became insolvent. IT IS A SCAM. So they take the other side once in awhile to make it look like it is a free market. Lol. You are naive. Look at the damn chart: Examples of Globalization Austerity Is Placed on America in Three Crucial WaysI know the loan is not a swap. But to qualify for the loan, the company is forced to take a swap. Banks are predominantly on the floating, low interest side of the trade because the government or medium sized business fears the floating rate, fearing inflation and rising interest rates that never come! PIMCO Investment Basics - What Are Interest Rate Swaps and How Do They WorkOne more thing, Todd. Interest rate swap scam, the biggest bankster scam, works like this. The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap. They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating. But the Fed always watches the backs of the banks and the swaps nearly always win for them, unless LIBOR gets higher than the swap rate, which is what happened in the Great Recession.
The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap.
A loan isn't a swap.
They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating.
I guess you could say that deposit accounts have a floating rate. So what? That still isn't a swap.
But the Fed always watches the backs of the banks and the swaps nearly always win for them,
Most interest rate swaps have banks on both sides of the trade. Do you feel the Fed makes both sides win?
From Pimco:
The counterparties in a typical swap transaction are a corporation, a bank or an investor on one side (the bank client) and an investment or commercial bank on the other side. After a bank executes a swap, it usually offsets the swap through an interdealer broker and retains a fee for setting up the original swap. If a swap transaction is large, the interdealer broker may arrange to sell it to a number of counterparties, and the risk of the swap becomes more widely dispersed. This is how banks that provide swaps routinely shed the risk, or interest-rate exposure, associated with them.
Initially, interest rate swaps helped corporations manage their floating-rate debt liabilities by allowing them to pay fixed rates, and receive floating-rate payments. In this way, corporations could lock into paying the prevailing fixed rate and receive payments that matched their floating-rate debt. (Some corporations did the opposite – paid floating and received fixed – to match their assets or liabilities.) However, because swaps reflect the market’s expectations for interest rates in the future, swaps also became an attractive tool for other fixed-income market participants, including speculators, investors and banks.
As a result, the swap market has grown immensely in the past 20 years or so; the notional dollar value of outstanding interest rate swaps globally was $230 trillion at the end of 2006, according to the Bank for International Settlements. Swap volume is termed “notional” because principal amounts, although included in total swap volume, are never actually exchanged. Only interest payments change hands in a swap, as described below.
But to qualify for the loan, the company is forced to take a swap.
Okay, a company borrows $100,000 at 5% for 2 years. What does the swap agreement say? Spell it out.
Banks are predominantly on the floating, low interest side of the trade.
Why do you feel banks need to be on the floating side? Most of their loans are fixed.
They would prefer their liabilities to be fixed as well.
After a bank executes a swap, it usually offsets the swap through an interdealer broker and retains a fee for setting up the original swap.
Look at that, the bank is on both sides of the swap, not predominantly on the floating side.
You're a fan of state banks? LOL!
Why not. North Dakota is a conservative state with a state bank. It kept credit rolling to businesses in the state while the megabanks were freezing up. I have a lot of respect ofr Ellen Brown, author of Web of Debt.You're a fan of state banks? LOL!
Just because you don't understand finance, don't embarrass yourself. You are letting the world know that you are stupid.You're a fan of state banks? LOL!
You do have to give him 10 Points for Consistency, Todd.
Gary is a certifiable moonbat.
Banks, if you look at my chart, are predominantly on the floating, LIBOR side of the swap. You can see what happened to the banks when LIBOR spiked. They became insolvent. IT IS A SCAM. So they take the other side once in awhile to make it look like it is a free market. Lol. You are naive. Look at the damn chart: Examples of Globalization Austerity Is Placed on America in Three Crucial WaysI know the loan is not a swap. But to qualify for the loan, the company is forced to take a swap. Banks are predominantly on the floating, low interest side of the trade because the government or medium sized business fears the floating rate, fearing inflation and rising interest rates that never come! PIMCO Investment Basics - What Are Interest Rate Swaps and How Do They WorkOne more thing, Todd. Interest rate swap scam, the biggest bankster scam, works like this. The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap. They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating. But the Fed always watches the backs of the banks and the swaps nearly always win for them, unless LIBOR gets higher than the swap rate, which is what happened in the Great Recession.
The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap.
A loan isn't a swap.
They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating.
I guess you could say that deposit accounts have a floating rate. So what? That still isn't a swap.
But the Fed always watches the backs of the banks and the swaps nearly always win for them,
Most interest rate swaps have banks on both sides of the trade. Do you feel the Fed makes both sides win?
From Pimco:
The counterparties in a typical swap transaction are a corporation, a bank or an investor on one side (the bank client) and an investment or commercial bank on the other side. After a bank executes a swap, it usually offsets the swap through an interdealer broker and retains a fee for setting up the original swap. If a swap transaction is large, the interdealer broker may arrange to sell it to a number of counterparties, and the risk of the swap becomes more widely dispersed. This is how banks that provide swaps routinely shed the risk, or interest-rate exposure, associated with them.
Initially, interest rate swaps helped corporations manage their floating-rate debt liabilities by allowing them to pay fixed rates, and receive floating-rate payments. In this way, corporations could lock into paying the prevailing fixed rate and receive payments that matched their floating-rate debt. (Some corporations did the opposite – paid floating and received fixed – to match their assets or liabilities.) However, because swaps reflect the market’s expectations for interest rates in the future, swaps also became an attractive tool for other fixed-income market participants, including speculators, investors and banks.
As a result, the swap market has grown immensely in the past 20 years or so; the notional dollar value of outstanding interest rate swaps globally was $230 trillion at the end of 2006, according to the Bank for International Settlements. Swap volume is termed “notional” because principal amounts, although included in total swap volume, are never actually exchanged. Only interest payments change hands in a swap, as described below.
But to qualify for the loan, the company is forced to take a swap.
Okay, a company borrows $100,000 at 5% for 2 years. What does the swap agreement say? Spell it out.
Banks are predominantly on the floating, low interest side of the trade.
Why do you feel banks need to be on the floating side? Most of their loans are fixed.
They would prefer their liabilities to be fixed as well.
After a bank executes a swap, it usually offsets the swap through an interdealer broker and retains a fee for setting up the original swap.
Look at that, the bank is on both sides of the swap, not predominantly on the floating side.
Just because you don't understand finance, don't embarrass yourself. You are letting the world know that you are stupid.You're a fan of state banks? LOL!
You do have to give him 10 Points for Consistency, Todd.
Gary is a certifiable moonbat.
You are right. I have no idea what you understand, but you don't obviously understand my chart about LIBOR and Fixed Rates. Lol.Just because you don't understand finance, don't embarrass yourself. You are letting the world know that you are stupid.You're a fan of state banks? LOL!
You do have to give him 10 Points for Consistency, Todd.
Gary is a certifiable moonbat.
You have no idea what I understand. I work in Finance, and suspect I know far more than you do. You're a sideliner opinionator, and not a very good one at that.
Banks, if you look at my chart, are predominantly on the floating, LIBOR side of the swap. You can see what happened to the banks when LIBOR spiked. They became insolvent. IT IS A SCAM. So they take the other side once in awhile to make it look like it is a free market. Lol. You are naive. Look at the damn chart: Examples of Globalization Austerity Is Placed on America in Three Crucial WaysI know the loan is not a swap. But to qualify for the loan, the company is forced to take a swap. Banks are predominantly on the floating, low interest side of the trade because the government or medium sized business fears the floating rate, fearing inflation and rising interest rates that never come! PIMCO Investment Basics - What Are Interest Rate Swaps and How Do They WorkOne more thing, Todd. Interest rate swap scam, the biggest bankster scam, works like this. The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap. They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating. But the Fed always watches the backs of the banks and the swaps nearly always win for them, unless LIBOR gets higher than the swap rate, which is what happened in the Great Recession.
The medium sized private company goes to a TBTF bank for a loan. The company or government agency, in order to get the loan, must take one side of a swap.
A loan isn't a swap.
They take the fixed higher rate and the bank "gambles" and takes the low rate that is floating.
I guess you could say that deposit accounts have a floating rate. So what? That still isn't a swap.
But the Fed always watches the backs of the banks and the swaps nearly always win for them,
Most interest rate swaps have banks on both sides of the trade. Do you feel the Fed makes both sides win?
From Pimco:
The counterparties in a typical swap transaction are a corporation, a bank or an investor on one side (the bank client) and an investment or commercial bank on the other side. After a bank executes a swap, it usually offsets the swap through an interdealer broker and retains a fee for setting up the original swap. If a swap transaction is large, the interdealer broker may arrange to sell it to a number of counterparties, and the risk of the swap becomes more widely dispersed. This is how banks that provide swaps routinely shed the risk, or interest-rate exposure, associated with them.
Initially, interest rate swaps helped corporations manage their floating-rate debt liabilities by allowing them to pay fixed rates, and receive floating-rate payments. In this way, corporations could lock into paying the prevailing fixed rate and receive payments that matched their floating-rate debt. (Some corporations did the opposite – paid floating and received fixed – to match their assets or liabilities.) However, because swaps reflect the market’s expectations for interest rates in the future, swaps also became an attractive tool for other fixed-income market participants, including speculators, investors and banks.
As a result, the swap market has grown immensely in the past 20 years or so; the notional dollar value of outstanding interest rate swaps globally was $230 trillion at the end of 2006, according to the Bank for International Settlements. Swap volume is termed “notional” because principal amounts, although included in total swap volume, are never actually exchanged. Only interest payments change hands in a swap, as described below.
But to qualify for the loan, the company is forced to take a swap.
Okay, a company borrows $100,000 at 5% for 2 years. What does the swap agreement say? Spell it out.
Banks are predominantly on the floating, low interest side of the trade.
Why do you feel banks need to be on the floating side? Most of their loans are fixed.
They would prefer their liabilities to be fixed as well.
After a bank executes a swap, it usually offsets the swap through an interdealer broker and retains a fee for setting up the original swap.
Look at that, the bank is on both sides of the swap, not predominantly on the floating side.
Banks lend mostly fixed. It they could, they'd prefer to borrow fixed.
They don't need any more exposure to floating rates. If I bothered to click on your blog,
it would probably show that you're misreading the chart.
But to qualify for the loan, the company is forced to take a swap.
Okay, a company borrows $100,000 at 5% for 2 years. What does the swap agreement say? Spell it out.
Or did you realize your error?
You are right. I have no idea what you understand, but you don't obviously understand my chart about LIBOR and Fixed Rates. Lol.Just because you don't understand finance, don't embarrass yourself. You are letting the world know that you are stupid.You're a fan of state banks? LOL!
You do have to give him 10 Points for Consistency, Todd.
Gary is a certifiable moonbat.
You have no idea what I understand. I work in Finance, and suspect I know far more than you do. You're a sideliner opinionator, and not a very good one at that.
Why not. North Dakota is a conservative state with a state bank. It kept credit rolling to businesses in the state while the megabanks were freezing up. I have a lot of respect ofr Ellen Brown, author of Web of Debt.You're a fan of state banks? LOL!
BTW, if you are a banker, and you must be, know these two things. My natural father was a CEO banker in NYC. I am adopted. I am driven to know how these scam banks operate. Also, the system is cleaver, but the next rescue of the banks if LIBOR spikes again will be your savings, in a bailin. Don't keep more in the banks than you can afford to lose.
