Federal Reserve Board Comes Clean

charver said:
Well, his whole article is a speculative piece about what may have happened if the banks had not been bailed out.

He can't really prove anything he said is true because the banks were bailed out and i can't prove what he said is bollocks because the banks were bailed out.

Perhaps a better question might be to ask Mr Hannan to prove that a worldwide banking collapse would have been a good thing for Iceland and the rest of the world.
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true...his test subject, iceland, was rather small....and apparently not entirely correct on the facts

i've read up some books, both fiction and non fiction on banking collapses in england and america.....and i don't know the answer....seems there are experts that say - let them fail - then experts say - the government should not let them fail

it is a tough issue because it is not just the bank losing money, it is you and i losing money....and imo...banks should not be allowed to gamble with our money.
 
charver said:
Well, his whole article is a speculative piece about what may have happened if the banks had not been bailed out.

He can't really prove anything he said is true because the banks were bailed out and i can't prove what he said is bollocks because the banks were bailed out.

Perhaps a better question might be to ask Mr Hannan to prove that a worldwide banking collapse would have been a good thing for Iceland and the rest of the world.
Click to expand...

Yeah but no but yeah but, as Vicky Pollard would say, Yurt is always banging on about how you can prove a negative.
 
Yurt said:
true...his test subject, iceland, was rather small....and apparently not entirely correct on the facts

i've read up some books, both fiction and non fiction on banking collapses in england and america.....and i don't know the answer....seems there are experts that say - let them fail - then experts say - the government should not let them fail

it is a tough issue because it is not just the bank losing money, it is you and i losing money....and imo...banks should not be allowed to gamble with our money.
Click to expand...

I bow to no man in my loathing of bankers who got us into this situation in the first place but it is also true to say that we've happily acquiesced to our governments utilising the the rather large profits flowing in from the banking sector and the 'easy-terms' loans handed out to anyone who could sign their own name which in turn fed into the consumer driven booms of yesteryear.

I don't know what the hell the answer is. I want the banks to make shit loads of money but i also want to crucify the fuckers as well.

All i do know is nothing has changed and nothing will change. All this will happen again 5 or 10 years down the line because real people don't matter.
 
charver said:
I bow to no man in my loathing of bankers who got us into this situation in the first place but it is also true to say that we've happily acquiesced to our governments utilising the the rather large profits flowing in from the banking sector and the 'easy-terms' loans handed out to anyone who could sign their own name which in turn fed into the consumer driven booms of yesteryear.

I don't know what the hell the answer is. I want the banks to make shit loads of money but i also want to crucify the fuckers as well.

All i do know is nothing has changed and nothing will change. All this will happen again 5 or 10 years down the line because real people don't matter.
Click to expand...

your second paragraph is right on....it was supposed to change with new laws....i think SF mentioned banking laws that were changed in the US that harmed our money

banks are an interesting creature, like corps, they don't exist save for the government (well in western civs)....should banks be a depository that solely takes our money and keeps in a vault? or should the bank take our money and try to make money off of that money, wherein, if you have enough money, you can invest in CD's etc.....

about loaning money....here in the US....we bailed out banks so they would loan money, and save a financial collapse....but....they haven't....thus the record "profits" ....
 
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