Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-18-2023, 07:24 PM
 
Location: Warwick, RI
5,445 posts, read 6,220,490 times
Reputation: 9356

Advertisements

Quote:
Originally Posted by moguldreamer View Post
That Bloomberg article was as close to content free as you can get.
Of course it was. It’s was reporting only that Buffett was “in contact” with Biden officials. That’s all it was meant to do, and nothing more because details of the conversations are not public. Of course, one could always read between the lines and determine that this contact is in and of itself important, for many reasons. Stay tuned I guess.

Geez, I could post that water is wet and people would dismiss it for lack of details. SMH.
Reply With Quote Quick reply to this message

 
Old 03-18-2023, 07:31 PM
 
7,395 posts, read 3,588,129 times
Reputation: 14080
Quote:
Originally Posted by biafra4life View Post
I would agree with the majority of posters here in that the rescue HAD to be made to head off a domino effect of collapsing banks taking us back to Armageddon 2008.
I find it interesting that Sheila Bair - the highly respected former Chairwoman of the FDIC - disagrees with that view.




Quote:
Originally Posted by biafra4life View Post
That being said, if it's agreed that the banking system is too important to allow to fail, then I dont see any other choice but to nationalize it.
There is another approach.

The US banking system is highly splintered. There are about 4,500 commercial banks and savings institutions operating in the United States, according to the Federal Reserve. This number includes both large national banks and smaller community banks. In addition to commercial banks, there are also about 1,100 credit unions operating in the United States.

Contrast that with Canada, which has about 35 banks.

The alternative to our current system - with thousands of too-small-to-protect-themselves banks - is a much smaller number of mega banks, each of which would have sufficient assets and sufficient constant regulatory review that the US economy would no longer be at risk.

The downside to that is many rural jurisdictions - with Congressmen who vote - would oppose that. They like their little po-dunk banks that understand local issues.

Quote:
Originally Posted by biafra4life View Post
We cant keep "privatizing the profits but socializing the losses" of the banks. If they are that critical, then they either should be nationalized or the regulation ramped up considerably (If I recall, increased regulation and oversight was exactly what was done after 2008, only to be rolled back by Trump).
The bold above is a standard Democratic talking point. It also is false. There was a Bi-Partisan bill reducing the compliance burden on mid-sized banks. Everyone thought that made sense, as the issues facing big money center banks are very different from issues facing a small bank in Iowa that deals with tractors and feed lots.

Last edited by moguldreamer; 03-18-2023 at 07:57 PM..
Reply With Quote Quick reply to this message
 
Old 03-18-2023, 07:39 PM
 
7,395 posts, read 3,588,129 times
Reputation: 14080
Quote:
Originally Posted by Lycanmaster View Post
There's one prominent figure (Ron Paul) who believes the FED should be ended altogether...
I'm trying to think of a single mainstream economist who believes the Fed should be abolished. I'm not coming up with any.
Reply With Quote Quick reply to this message
 
Old 03-18-2023, 07:40 PM
 
7,395 posts, read 3,588,129 times
Reputation: 14080
Quote:
Originally Posted by EDS_ View Post
UBS, the largest Swiss bank, will take over Credit Suisse, the second largest Swiss bank. This is exceptionally good news.
Yes. Very good indeed.

Last edited by moguldreamer; 03-18-2023 at 07:58 PM..
Reply With Quote Quick reply to this message
 
Old 03-18-2023, 08:03 PM
 
Location: Honolulu, HI
24,371 posts, read 9,240,450 times
Reputation: 22739
Quote:
Originally Posted by Lizap View Post
This is getting even more absurd. The next step is to nationalize the banking system.

https://www.cnbc.com/2023/03/18/mids...two-years.html
That’s hilarious. Here comes the big bailout part 2.
Reply With Quote Quick reply to this message
 
Old 03-18-2023, 11:12 PM
 
19,562 posts, read 17,837,171 times
Reputation: 17094
Quote:
Originally Posted by Lizap View Post
This is getting even more absurd. The next step is to nationalize the banking system.

https://www.cnbc.com/2023/03/18/mids...two-years.html
What are you talking about? UBS v. CS is a private concern taking over another private concern you should be thrilled.


ETA - just noticed two threads were combined, a silly move IMO. Anyway if your post was in response to another post consider the above withdrawn.

Last edited by EDS_; 03-18-2023 at 11:24 PM..
Reply With Quote Quick reply to this message
 
Old 03-18-2023, 11:13 PM
 
19,562 posts, read 17,837,171 times
Reputation: 17094
Quote:
Originally Posted by mathjak107 View Post
the andrea doria rescues the titanic ha ha
UBS is the closest thing the Euros have to Chase. However, your joke is fitting on a couple of levels.

Last edited by EDS_; 03-18-2023 at 11:25 PM..
Reply With Quote Quick reply to this message
 
Old 03-18-2023, 11:16 PM
 
19,562 posts, read 17,837,171 times
Reputation: 17094
Quote:
Originally Posted by biafra4life View Post
I would agree with the majority of posters here in that the rescue HAD to be made to head off a domino effect of collapsing banks taking us back to Armageddon 2008. That being said, if it's agreed that the banking system is too important to allow to fail, then I dont see any other choice but to nationalize it. We cant keep "privatizing the profits but socializing the losses" of the banks. If they are that critical, then they either should be nationalized or the regulation ramped up considerably (If I recall, increased regulation and oversight was exactly what was done after 2008, only to be rolled back by Trump).
No. Not even close. Simply allow banks to forgo, "mark to market" pricing rules on long bonds directly or indirectly.
Reply With Quote Quick reply to this message
 
Old 03-19-2023, 12:08 AM
 
6,561 posts, read 4,209,697 times
Reputation: 7011
Quote:
Originally Posted by EDS_ View Post
What are you talking about? UBS v. CS is a private concern taking over another private concern you should be thrilled.


ETA - just noticed two threads were combined, a silly move IMO. Anyway if your post was in response to another post consider the above withdrawn.

You obviously didn’t bother to click on the link before posting.
Reply With Quote Quick reply to this message
 
Old 03-19-2023, 12:26 AM
 
19,562 posts, read 17,837,171 times
Reputation: 17094
Quote:
Originally Posted by Lizap View Post
You obviously didn’t bother to click on the link before posting.
I tried it - it didn't open. That's on me I have Fred Flinstone level internet some weekends.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top