Connect the dots for us...how did what Trump did 5 years ago, lead to the largest bank failure in record history under Xiden?
The Banking Collapse of 2023 is now bigger than the 2008 “banking crisis”
- Thread starter theHawk
- Start date
bigrebnc1775
][][][% NC Sheepdog
Because we are talking banks...Lehman, Merrill Lynch and AIG weren't banks.
bigrebnc1775
][][][% NC Sheepdog
Because TDS says so lol
nope! The big collapses in 2008 were not just banks....that is where you are being mislead, by your fake news....they left the big guns out, like AIG in 2008....etc, that were not banks....but were the biggest collapses....
H
Harpy Eagle
Guest
And by focusing only on banks you ignore the heart of the problem in 2008.
But hey, it gives you all more panic porn, so I am happy for you all. It seems to be vital to your existence.
pknopp
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Some saw it coming. While yes it's Hollywood it's what the movie "The Big Short" was all about.
NO, they weren't DUMBASS.
Banks had choices.
Repurposed from The Journal News, Westchester County
By David Schepp
(Original Publication: October 4, 2008)
The turmoil that has ripped through the U.S. financial system has seemingly touched every sector, from investment banks to savings and loans to mortgage companies.
Credit unions, however, have remained unscathed, even as concern about the fallout has pushed the National Credit Union Administration, which administers the National Credit Union Share Insurance Fund, to assure credit union customers that their money is safe.
WTF?
I just did, moron.
bigrebnc1775
][][][% NC Sheepdog
25 People to Blame for the Financial Crisis - TIME
President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of...
NO, moron.
Anyone with a brain knew this.
That leaves out Trump and his cult.
Trump Era Roll Back of Bank Regulations Resurfaces Amid ...
Newsweek
https://www.newsweek.com › ... › 2023 Banking Crisis
Mar 11, 2023 — The former president in 2018 rolled back requirements for banks of certain sizes to be stress tested by the Federal Reserve.
Mac1958
Diamond Member
They aren't told about that stuff in their world.
There is no more vivid representation of the Dunning-Kruger Effect than Trumpsters lecturing us on economics.
Depressing.
A Blog?25 People to Blame for the Financial Crisis - TIME
President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of...content.time.com
President Bush Signs American Dream Downpayment Act ...
National Archives | (.gov)
https://georgewbush-whitehouse.archives.gov › 2003/12
Dec 16, 2003 — President Bush on Tuesday signed into law the American Dream Downpayment Act of 2003, which will help approximately 40000 families a year ...
The biggest barrier to homeownership is often accumulating funds for a down payment.
In June 2002, President Bush proposed the American Dream Downpayment Fund to help low-income families take much-needed steps to own a home of their own, and announced the goal of increasing the number of minority homeowners by at least 5.5 million before the end of the decade.
President Bush's aggressive housing agenda to dismantle the barriers to homeownership includes providing down payment assistance through the American Dream Downpayment Fund; increasing the supply of affordable homes through the Single-Family Affordable Housing Tax Credit; increasing support for self-help homeownership programs like Habitat for Humanity; simplifying the home-buying process; and increasing home-buying education.
pknopp
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You have no issue with Clinton signing off on bank deregulations?
You have no issue with the republicans that created and introduced the bill?
The final version of the Gramm-Leach-Bliley Act passed the House by a vote of 362-57 and the Senate by a vote of 90-8. This made the bill "veto proof", meaning that if Clinton had decided to veto, the bill would have been passed anyways.
Fact Check: Did Bill Clinton Repeal the Glass-Steagall Act?
pknopp
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What is your post saying? Your post is saying that the problem was very bi-partisan in nature. If you know something is wrong (Clinton didn't) you veto it and make them over ride it. At least you are in history of being on the right side.
This is why I can not stand either party. They both have too many that will defend them no matter what. "It's all the other parties fault", when it simply isn't.
A few were noting that Dodd/Frank went nowhere close enough in addressing the banking problem and here we are again.
To also note, Biden should have simply let the banks fail. What happened? The banks are bought up by the biggest bank around, making the whole "To Big to Fail" issue and even bigger issue.
Kitco, is trying to sell you gold and other precious metals that they sell.
______________
I’m not sure we could call it “fake” but I’m also not sure we can call it “news.” As Kitco’s corporate website explains, “"Kitco" is a familiar name to many people who visit our world-famous, award-winning website Live Gold Prices | Gold News And Analysis | Mining News | KITCO. With its compelling combination of an online precious metals store, live spot prices, expert market commentaries, up-to-the-minute news and usable market information, our website attracts nearly a million visits every day.” Given its own description, it seems more like commerce to me (like Home Shopping Network, only for gold and silver)— it does provide useful information about precious metals and currency, but it seems to be a site that hopes you’ll buy something from them. If you are seeking business news about precious metals, you might want to make use of a site where there are reporters who cover business news, with no expectation of selling you something.
https://www.quora.com/What-are-some-examples-of-fake-news
pknopp
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They may be and while I didn't read the article, the thread title is true. It's what Dodd/Frank did. It didn't make the banks and investors responsible for future collapses, it made the depositors responsible.
I would have made them override it but looking at the votes, it would have happened.
Laws and regulations are there for a reason.
Someone crossed the line and it is usually the republicans, doing it.
Look at the SCOTUS.
ALL republicans.............NOW republicans claim they are being smeared and attacked.
The democrats aren't blameless, by any means.
I agree, but loosening already weak regulations, is going in the wrong direction.
As far as I know, Biden wasn't involved in who bought what, or even letting them fail, or anything.
There are opinions, no evidence.
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