CBS interviewer asks Elizabeth Warren to offer solutions to banking crisis instead of just blaming Trump & Jerome Powell

[basquebromance]

Government & The Fed works for big rich banks that want to get bigger and want to get richer, and then everyone else pays the price

 

[Baron Von Murderpaws]

What, exactly, is a "small" bank?

 

[basquebromance]

What, exactly, is a "small" bank?

Small/medium banks account for 50% of US commercial and industrial lending, 60% of residential real estate lending, 80% of commercial real estate lending, and 45% of consumer lending

 

[saveliberty]

What, exactly, is a "small" bank?

Small bank -
(1) Definition. Small bank means a bank that, as of December 31 of either of the prior two calendar years, had assets of less than $1.322 billion. Intermediate small bank means a small bank with assets of at least $330 million as of December 31 of both of the prior two calendar years and less than $1.322 billion as of December 31 of either of the prior two calendar years.

 

[iamwhatiseem]

Warren shows exactly what is wrong with Washington.
All she is interested in is trying to use the situation for political gain. PERIOD.
All she cares about, and why this reporter had to interrupt her FOUR times.
Her "regulation" argument doesn't hold water. If the regulation she was talking about was still in place - the bank would have still failed. 100%.
Both parties were FULLY supportive of explosively growing the financial sector and turning banks into Wall Street investment firms more than banks. They ALL were fully supportive of banks creating bubbles and "debt as income" mentality of the 80s-2000s.

We learned nothing from 1987. Nothing from 2008. And we will learn nothing from what is surely about to happen this year.

 

[Donald H]

Her "regulation" argument doesn't hold water. If the regulation she was talking about was still in place - the bank would have still failed. 100%.

NO.

 

[basquebromance]

 

[kyzr]

Pocahontas on banks...

Pocahontas NEVER speaks to runaway inflation.
She only talks about Trump & Powell cutting bank regulations.

Why is it that only democrat cash cows, like FTX & SVB go bankrupt, but no other financial institutions?

 

[Jim H - VA USA]

Government & The Fed works for big rich banks that want to get bigger and want to get richer, and then everyone else pays the price

The root cause of this problem is:

The economy was flooded with $6T in printed money.
This meant there was lots of money to be invested.
Inflation had been low, and many banks invested in low-interest bonds & mortgage-backed securities.
Inflation spiked.
Biden Admin told us inflation would be "transitory," so banks did not adjust their risks
The bonds became worthless as Fed pumped rates.
People no longer wanted to keep money in banks paying near zero interest. Deposits to banks decreased greatly.
Lots of people wanted to move their cash, and banks could not meet withdraws.

Everyone knew this would happen.

This happened because of Biden's actions and inactions, not Trump's.

 

[francoHFW]

Government & The Fed works for big rich banks that want to get bigger and want to get richer, and then everyone else pays the price

the solution is to repeal all the deregulation from 2018 before it happens again, like she says again and again, dunce. this is the same crap the GOP pulls every time. corrupt deregulation, bubble and bust recession or depression. Great job! Usually it takes six or seven years But with Trump the corruption is accelerated. Also of course bad GOP oversight of their pals with all the money.....

 

[francoHFW]

The root cause of this problem is:

The economy was flooded with $6T in printed money.
This meant there was lots of money to be invested.
Inflation had been low, and many banks invested in low-interest bonds & mortgage-backed securities.
Inflation spiked.
Biden Admin told us inflation would be "transitory," so banks did not adjust their risks
The bonds became worthless as Fed pumped rates.
People no longer wanted to keep money in banks paying near zero interest. Deposits to banks decreased greatly.
Lots of people wanted to move their cash, and banks could not meet withdraws.

Everyone knew this would happen.

This happened because of Biden's actions and inactions, not Trump's.

yes yes lol, that damn Biden invaded Ukraine and caused all this inflation and put the newly risky GOP banks out of business. Great job as always, super Duper.

 

[Jim H - VA USA]

yes yes lol, that damn Biden invaded Ukraine and caused all this inflation and put the newly risky GOP banks out of business. Great job as always, super Duper.

"Transitory"

 

[Orangecat]

What, exactly, is a "small" bank?

Ever hear of the "big bank challenge"?
big bank challenge - Google Search

 

[francoHFW]

"Transitory"

it did not become serious until Putin upset 15% of the world's oil and grain production.... everyone in the world knows it because everybody in the world has an inflation problem and America's just as good as anywhere thanks to Joe.

 

[Jim H - VA USA]

it did not become serious until Putin upset 15% of the world's oil and grain production.... everyone in the world knows it because everybody in the world has an inflation problem and America's just as good as anywhere thanks to Joe.

Um, no.

Had Biden Admin started raising rates incrementally when he was telling us inflation would be transitory, this would have allowed the banks to adjust. Instead, Biden let it get out of control, and then had to slam on the brakes with huge rate hikes, causing the current crisis.

 

[Markle]

the solution is to repeal all the deregulation from 2018 before it happens again, like she says again and again, dunce. this is the same crap the GOP pulls every time. corrupt deregulation, bubble and bust recession or depression. Great job! Usually it takes six or seven years But with Trump the corruption is accelerated. Also of course bad GOP oversight of their pals with all the money.....

Specifically please, share with us the specific regulation, reversed by President Trump that would have prevented a poorly run bank to fail.

You can't. Because all you do is parrot whatever it is that the DailyKOS or the Democrat Underground tell you what to say.

 

[francoHFW]

Specifically please, share with us the specific regulation, reversed by President Trump that would have prevented a poorly run bank to fail.

You can't. Because all you do is parrot whatever it is that the DailyKOS or the Democrat Underground tell you what to say.

i'll just go with the politicians who are not proven liars and the journalists who are not proven liars. And don't forget about your corrupt crony GOP oversight. wake up and smile the coffee. they do this every time And it isn't regular people that make any profit out of it's the greedy GOP super rich. change the damn channel for God's sake.

 

[Independent thinker]

yes yes lol, that damn Biden invaded Ukraine and caused all this inflation and put the newly risky GOP banks out of business. Great job as always, super Duper.

Good post! Yes, the way Biden got out of Afghanistan signaled to Putin that we would just let him invade Ukraine, which caused a whole bunch of crap, including rampant worldwide inflation. Glad to know how obvious that is to you.

 

[francoHFW]

Specifically please, share with us the specific regulation, reversed by President Trump that would have prevented a poorly run bank to fail.

You can't. Because all you do is parrot whatever it is that the DailyKOS or the Democrat Underground tell you what to say.

And every respected media outlet around the world except for like Russia And yours

 

[francoHFW]

Good post! Yes, the way Biden got out of Afghanistan signaled to Putin that we would just let him invade Ukraine, which caused a whole bunch of crap, including rampant worldwide inflation. Glad to know how obvious that is to you.

I never even thought of such a stupid thing before this. LOL as if the Taliban and ISIS are the same thing. it was also Trump's plan to leave that way And Biden even spent five months trying to buck up the Afghan army. all that is just total crap, a self fulfilling prophecy from your BS propaganda machine.....