Pace of U.S. bank failures not seen in 2 decades

Discussion in 'Economy' started by CaféAuLait, Nov 6, 2010.

  1. CaféAuLait
    Offline

    CaféAuLait This Space for Rent

    Joined:
    Oct 29, 2008
    Messages:
    7,776
    Thanks Received:
    1,947
    Trophy Points:
    245
    Location:
    Pacific Northwest
    Ratings:
    +2,323
  2. william the wie
    Offline

    william the wie Gold Member

    Joined:
    Nov 18, 2009
    Messages:
    7,261
    Thanks Received:
    672
    Trophy Points:
    175
    Ratings:
    +1,602
    And FDIC is trying to arrange shotgun marriages to keep the pace of official closures down.
     
  3. Big Fitz
    Offline

    Big Fitz User Quit *****

    Joined:
    Nov 23, 2009
    Messages:
    16,917
    Thanks Received:
    2,473
    Trophy Points:
    48
    Ratings:
    +2,475
    and at least during the S&L crisis, the appropriate senate members involved got skewered. Will something similar be done today? Bawny Fwank on a spit alongside Chris Dodd would be wonderful.
     
  4. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,617
    Would you be kind enough to show me how Barney Frank was responsible for those 143 banks going down?

    Please connect those dots.

    Thanks.
     
  5. Big Fitz
    Offline

    Big Fitz User Quit *****

    Joined:
    Nov 23, 2009
    Messages:
    16,917
    Thanks Received:
    2,473
    Trophy Points:
    48
    Ratings:
    +2,475
    Protecting Freddie and fannie and helping spawn this monstrosity of an economic mess as the banking queen.
     
  6. william the wie
    Offline

    william the wie Gold Member

    Joined:
    Nov 18, 2009
    Messages:
    7,261
    Thanks Received:
    672
    Trophy Points:
    175
    Ratings:
    +1,602
    BF I got to disagree with you on causality even though I like your unconstitutional solution to the problem. On a spit over a low fire, I think the cruel and unusual punishment rule works against you but I digress. The reason banking has been shrinking over the past 30 years or so is that banking is the most information intensive industry possible. As the cost of obtaining, storing and processing data and information has gone down so have bank fees, revenues and employment. That in turn has reduced the number of banks because they cannot compete with insurance companies, money market funds, bond funds and dozens of other lesser known alternatives to traditional banking. TARP like the auto bailout was simply lemon socialism.

    I wrote my tithe check a few hours ago and the account is with etrade. Within a decade I expect bankwire, bank drafts, direct deposit and debit cards to replace checks entirely. CARD has made Credit Cards a non-payer, foreclosure gate is likely to make securitization a low or no profit area, with lending tree dot com I don't need a physical bank or mortgage broker and this list keeps going. Within two decades banks may shrink in number to the point where major countries do not have a single domestic bank. Frank and Dodd did not write Moore's law and that is what is driving banking consolidation.
     
  7. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,617
    Then why only these banks out of the tens of thouaands of banks in the USA

    Again, please connect the actual dots leading from Barny Frank to these banks' failure.


    Can you do it?
     
  8. Bullfighter
    Offline

    Bullfighter BANNED

    Joined:
    Jun 10, 2010
    Messages:
    2,164
    Thanks Received:
    111
    Trophy Points:
    0
    Ratings:
    +111
    Why are Mexicans driving $50,000 SUVs and buying homes while Americans are losing everything they spent several generations building?
     
  9. iamwhatiseem
    Offline

    iamwhatiseem Gold Member

    Joined:
    Aug 19, 2010
    Messages:
    14,817
    Thanks Received:
    3,114
    Trophy Points:
    260
    Location:
    Virginia
    Ratings:
    +6,097
    Not possible.
    The stimulus saved America? :doubt:
     
  10. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,617
    Just to piss you off, naturally.
     

Share This Page