Who the hell is that? It's called getting back to what works. Today's idea of banking is simply not sustainable. I've already seem the opposite of simplifying... bailout after bailout.
This is the reason why they are always telling the American taxpayer to always SAVE in your 401k's even if its a little per pay check. Always SAVE, SO WHEN WE NEED IT WE CAN TAKE IT. SO THEY CAN PLAY, while we all work hard paying our bill's, Tax's etc... (what a bunch of nice fags). Nicely said GermanTrader. I guess this is one of the reason we don't do much. We all say a lot but we don't do a lot. (Not yet.) And with that said, I'm ordering MY huge cheeseburger and a small bucket of thick fries, I'll be out front in my wheel's. Thanks!! ($6.99 please!!). This is where our balls have gone. P.S. let me throw this in here. They started all this... so the Stock Market can Crash. What we see is the START of a MAJOR STOCK MARKET CRASH. 7800 (Dow) then 5900-6200, then 3800-4200 and then a close below 3800 the market will crash below 2000. We will see a intraday low of 1700-1472 if it is a total market crash. I never though I would ever see one but I think this is the one. This should all happen with in 09/10. Then we can all be buyer's, us and the government and we can all be rich. By the way, have you notice that interest rates are always lowest while price's are always at their highest. (I new we were near a market top.) trade well perr
I would rather just do it like the bankers did last week... get a nice fat check tax-free, plus the home equity on top of the check.
Ya your right GermanTrader, actually the money is really all the goverments. They make us all play the Game. We'll all go nuts without a game. trade well perr
stock_trad3r I also believe that 7800 or 7722 will prove to be Key numbers at the end of 2010. The Dow should drop down "big time" in 2009 and 2010, but come back up strong by the end of 2010. It''ll be fun really to watch how this Crash works it's way down and back up. You won't see one again in your life time. It'll be my first and only one. Never to be seen one again. A close above 7722 by the of 2010. Let's make a penny bet. trade well perr
This is not about bankers salaries as this gummint thinks, it is about working capital loans to industry. Banks should be bailed out SOLELY so that they can continue their function as lenders to industry*. As and when sound banks expand to met the lending requirements of the economy the borrowing ones on life support should be closed and their Managment and shareholders must take the consequences of their past actions. *there is no non corrupt rationale for non lenders GS and MS being given funds.
Commercial banks have lebverage of 10:1, Investment Banks 30:1. Now that Invstment Banks are converting to commercial banks we will see leverage commerical bank leverage ratios rise to meet the demands of the GS and MS i.e their leverage won't come down to 10:1, rather regulators will allow leverage of 20:1.
A bank will never be sound so long as it lends more than it has in the vault. One penny of loans more than its liquidity inside or on deposit at a central bank means insolvency, by definition. Yes, I know that banking has been based on ratios for a long time, but that is how we got into this shithole. Time to fix it or expect it again in the future. Which do you prefer?
I've got a question - why doesn't the government just do the damn lending directly at this point? Why must we keep these frigging parasite middlemen involved? Clearly they don't add any value to the transactions they are involved in.
One curiosity is that once the US banks get used to Nationalization.... it would seem that the other segments of the economy go into socialistic mode as well..... So one would question whether or not the US is moving towards the Danish high tax model.... It seems as if this is a given because the commitments being made are very large and will take a lot of time....and tax payer dollars...while the demographic needs will be growing as well.... ..................................................... The fact that is not escapable is that a rebuilding process will be required....and the action being taken is already a socialistic answer.... By the way....Denmark claims to have the happiest country in the world....and it is because of some socialistic policies regarding health, living standards, energy, and education.... ............................................... Hopefully the US can adopt a Danish model, but yet have capitalism as well.... Make no mistake about this.... The world needs a centralized direct access based worldwide stock exchange....whereby the entry is boilerplate and low cost....and the information is released and maintained by unbiased internet distribution....no dark pools...no unnecessary middlemen and hiding important information and charging hidden fees.... The world demands low cost capital....and nothing is more efficient than 0 interest nonobligatory debt.... The worlds' exchanges need to quickly consolidate, form, and service this proposed world exchange.....