FDIC is almost broke, 1,000 more banks set to fail...

Re: FDIC is almost broke, 1,000 more banks set to fail...

PostBy: tvb On: Sun Oct 04, 2009 6:01 am

Jeff, The FDIC is self-funded by the banks themselves.

As far as failing, spend a little more time studying rather than ranting. They fail due to greed - greed that previously was stunted by very effective bank regulations which disappeared under Reagan. Aren't you one for little or no regulation and just letting banks run amok? I would suggest you go and read some of Paul Krugman's writing; he writes in a very easy to understand way so it should be an easy read for you. Or, maybe you think you are smarter than the winner of the Nobel Prize in Economics?
tvb
 
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Re: FDIC is almost broke, 1,000 more banks set to fail...

PostBy: Black_And_Blue On: Sun Oct 04, 2009 8:18 am

Part 1 : Karl Denninger from
http://market-ticker.denninger.net/authors/2-Karl-Denninger
This link is broken, either the page no longer exists or there is some other issue like a typo.




Part 2 : Excellent example of how divide and conquer has looted your wealth...

Black_And_Blue
 
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Re: FDIC is almost broke, 1,000 more banks set to fail...

PostBy: jpete On: Sun Oct 04, 2009 11:06 am

tvb wrote:Jeff, The FDIC is self-funded by the banks themselves.

As far as failing, spend a little more time studying rather than ranting. They fail due to greed - greed that previously was stunted by very effective bank regulations which disappeared under Reagan. Aren't you one for little or no regulation and just letting banks run amok? I would suggest you go and read some of Paul Krugman's writing; he writes in a very easy to understand way so it should be an easy read for you. Or, maybe you think you are smarter than the winner of the Nobel Prize in Economics?


Those regulations you love so much force banks to lend out at 10:1. And if they FDIC is self funded, then why are they bankrupt? And where will the short fall be made up from?

The greed wasn't stunted, the money machine was cranked up to keep them solvent. Same as what's going to happen today.

As far as Krugman goes, I've read some of his stuff, and yes, I think I am smarter than him.

How about you read some (Nobel prize winner)Hayek and then we can talk.
jpete
 
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