Platinum Contributing Member steve from amherst Posted March 16, 2020 Platinum Contributing Member Share Posted March 16, 2020 6 minutes ago, Matt said: The fed actions are pointless. This , just let it happen and when it's over pick up the pieces and move on. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 16, 2020 Share Posted March 16, 2020 47 minutes ago, Matt said: The fed actions are pointless. Oh no, they are not pointless at all. They are bailing out the banks without saying they are bailing out the banks. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted March 16, 2020 Share Posted March 16, 2020 Just now, Anler said: Oh no, they are not pointless at all. They are bailing out the banks without saying they are bailing out the banks. yup- they need to keep the wheels greased, like it or not widespread failure of our financial system cannot be allowed. Encouraging lending is needed. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 16, 2020 Share Posted March 16, 2020 Just now, Angry ginger said: yup- they need to keep the wheels greased, like it or not widespread failure of our financial system cannot be allowed. Encouraging lending is needed. Thanks to the 2009 bail out of the banks they no longer need to ask Congress if they can bail out the banks they can just do what they want. If they didnt bail out the banks people might stop paying off their loans. Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 16, 2020 Author Share Posted March 16, 2020 4 minutes ago, Angry ginger said: yup- they need to keep the wheels greased, like it or not widespread failure of our financial system cannot be allowed. Encouraging lending is needed. It’s called glass steagal and there is a reason they repealed it Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 16, 2020 Share Posted March 16, 2020 2 minutes ago, f7ben said: It’s called glass steagal and there is a reason they repealed it Warren should be Biden’s VP the keep checks on the banks. 1 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted March 16, 2020 Share Posted March 16, 2020 27 minutes ago, Mainecat said: Warren should be Biden’s VP the keep checks on the banks. she's well intended I think but clueless when it comes to executing. Dodd frank could have been great legislation had anyone with experience thought through things more rather than rushing it out. Banks power over our economy should have been put more in check and big banks broken up. Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 16, 2020 Author Share Posted March 16, 2020 51 minutes ago, Angry ginger said: she's well intended I think but clueless when it comes to executing. Dodd frank could have been great legislation had anyone with experience thought through things more rather than rushing it out. Banks power over our economy should have been put more in check and big banks broken up. Separate the investment arms and deposit arms easy peasy no more fucking bailouts Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted March 16, 2020 Share Posted March 16, 2020 4 minutes ago, f7ben said: Separate the investment arms and deposit arms easy peasy no more fucking bailouts yes that should happen and banks should only be able to have a certain percentage of the deposit business IMO but thats not what the biggest issue is now it's banks running short on cash. https://www.ft.com/content/f1ea5096-6531-11ea-a6cd-df28cc3c6a68 Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 16, 2020 Author Share Posted March 16, 2020 2 minutes ago, Angry ginger said: yes that should happen and banks should only be able to have a certain percentage of the deposit business IMO but thats not what the biggest issue is now it's banks running short on cash. https://www.ft.com/content/f1ea5096-6531-11ea-a6cd-df28cc3c6a68 Why are they short in cash. Nobody has been able to answer this. Some of these banks are close to collapse and other banks won’t lend to them. They should fail Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 16, 2020 Share Posted March 16, 2020 2 hours ago, Matt said: The fed actions are pointless. It doesn’t appear that way. Nothing done so far has stabilized the market. Sometimes I wonder if they’re doing the cuts just to keep trump from losing his shit Quote Link to comment Share on other sites More sharing options...
Zambroski Posted March 16, 2020 Share Posted March 16, 2020 Just now, f7ben said: Why are they short in cash. Nobody has been able to answer this. Some of these banks are close to collapse and other banks won’t lend to them. They should fail They should have failed in 2007-10 but, the bigger banks got their bail out money and instead of, you know...actually doing something for their consumers they bought all these smaller failing banks up. Now, they have profited from them heavily so, they are cutting them loose under this strain...and consumers will lose, again....unless of course the bigger banks get another nice bail out. Repeat. Comical....but not really. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 16, 2020 Share Posted March 16, 2020 5 minutes ago, f7ben said: Why are they short in cash. Nobody has been able to answer this. Some of these banks are close to collapse and other banks won’t lend to them. They should fail Probably because a lot of the securities being held are shit and no one wants to be the stinky guy. These type of financial crisis have a way of lifting up the carpet and exposing hidden bullshit. Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 16, 2020 Author Share Posted March 16, 2020 Just now, Zambroski said: They should have failed in 2007-10 but, the bigger banks got their bail out money and instead of, you know...actually doing something for their consumers they bought all these smaller failing banks up. Now, they have profited from them heavily so, they are cutting them loose under this strain...and consumers will lose, again....unless of course the bigger banks get another nice bail out. Repeat. Comical....but not really. It’s much much much bigger than that. Some of these massive investment banks are holding so much bad paper they could collapse the global economy. Many other banks ha e significant exposure to those banks. It’s all been carefully orchestrated as far as leveraging their capital by many multiples and ensuring that when they do fail they are so intertwined that taxpayers have to foot the bill Quote Link to comment Share on other sites More sharing options...
Zambroski Posted March 16, 2020 Share Posted March 16, 2020 Just now, f7ben said: It’s much much much bigger than that. Some of these massive investment banks are holding so much bad paper they could collapse the global economy. Many other banks ha e significant exposure to those banks. It’s all been carefully orchestrated as far as leveraging their capital by many multiples and ensuring that when they do fail they are so intertwined that taxpayers have to foot the bill Oh, they aren't holding near the "bad paper" as there were with the mortgage idiocy. But, if this thing slips, they will be holding the big bag on yet more record consumer debt...and no way to collect. Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 16, 2020 Author Share Posted March 16, 2020 2 minutes ago, Zambroski said: Oh, they aren't holding near the "bad paper" as there were with the mortgage idiocy. But, if this thing slips, they will be holding the big bag on yet more record consumer debt...and no way to collect. They are holding way more bad paper globally than our little 2008 crisis. Way more Quote Link to comment Share on other sites More sharing options...
Matt Posted March 16, 2020 Share Posted March 16, 2020 11 minutes ago, spin_dry said: It doesn’t appear that way. Nothing done so far has stabilized the market. Sometimes I wonder if they’re doing the cuts just to keep trump from losing his shit Trump finally did what he should have done 10 days ago and laid out some real recommendations. People aren't selling stocks like crazy due to fiscal policy at the fed. They're doing it because there's been a lack of leadership, direction, and certainty that things are under control. I know that constitutionally, it's correct to leave things up to individual states, but there should have been more guidance from the federal government earlier. Hopefully we're at least doing this early enough to nip it in the bud. I'm afraid we may be too late for that though and Pandora's box is already open. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 16, 2020 Share Posted March 16, 2020 1 minute ago, Matt said: Trump finally did what he should have done 10 days ago and laid out some real recommendations. People aren't selling stocks like crazy due to fiscal policy at the fed. They're doing it because there's been a lack of leadership, direction, and certainty that things are under control. I know that constitutionally, it's correct to leave things up to individual states, but there should have been more guidance from the federal government earlier. Hopefully we're at least doing this early enough to nip it in the bud. I'm afraid we may be too late for that though and Pandora's box is already open. It’ll be tough, but it’ll work out. There’s a lot of fucking cash sitting on the sidelines right now. There are some smart investors you know. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 16, 2020 Share Posted March 16, 2020 56 minutes ago, f7ben said: Separate the investment arms and deposit arms easy peasy no more fucking bailouts You won't have a job, are you good with that? Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 16, 2020 Author Share Posted March 16, 2020 38 minutes ago, ArcticCrusher said: You won't have a job, are you good with that? Why in the fuck would that be??? We all had jobs prior to 1999 and the way it’s shaping up I won’t have a fucking job anyways Quote Link to comment Share on other sites More sharing options...
Anler Posted March 16, 2020 Share Posted March 16, 2020 1 hour ago, f7ben said: Why are they short in cash. Nobody has been able to answer this. Some of these banks are close to collapse and other banks won’t lend to them. They should fail They are leveraged, they never had the deposits or collateral to begin with. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 16, 2020 Platinum Contributing Member Share Posted March 16, 2020 Just now, Anler said: They are leveraged, they never had the deposits or collateral to begin with. Correct, and therefore should not be in business. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 16, 2020 Share Posted March 16, 2020 3 minutes ago, steve from amherst said: Correct, and therefore should not be in business. I'm all for giving them the fuck you. Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 16, 2020 Author Share Posted March 16, 2020 7 minutes ago, Anler said: I'm all for giving them the fuck you. Well we know that ain’t happening Quote Link to comment Share on other sites More sharing options...
Anler Posted March 16, 2020 Share Posted March 16, 2020 I called 20k and here we are, that didn't take long either. I don't even want to think about how much lower it could go. Quote Link to comment Share on other sites More sharing options...
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