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

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

  1. CaféAuLait
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    CaféAuLait This Space for Rent

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  2. william the wie
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    william the wie Gold Member

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    And FDIC is trying to arrange shotgun marriages to keep the pace of official closures down.
     
  3. Big Fitz
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    Big Fitz User Quit *****

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    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
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    editec Mr. Forgot-it-All

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    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
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    Big Fitz User Quit *****

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    Protecting Freddie and fannie and helping spawn this monstrosity of an economic mess as the banking queen.
     
  6. william the wie
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    william the wie Gold Member

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    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
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    editec Mr. Forgot-it-All

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    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
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    Bullfighter BANNED

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    Why are Mexicans driving $50,000 SUVs and buying homes while Americans are losing everything they spent several generations building?
     
  9. iamwhatiseem
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    iamwhatiseem Gold Member

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    Not possible.
    The stimulus saved America? :doubt:
     
  10. editec
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    editec Mr. Forgot-it-All

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    Just to piss you off, naturally.
     

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