A New Fed Thought for 'Too Big to Fail' Banks: Shrink Them - NYTimes.com: "Mr. Tarullo said much had been done to make the financial system safer, through the two main overhauls that came after the crisis. Those are the Dodd-Frank Act, passed by Congress in 2010, and the internationally agreed bank regulations known as Basel III.
In particular, these initiatives have made banks hold more capital, a part of a bank’s balance sheet that can serve as a buffer against losses. Before the crash of 2008, banks had insufficient capital, which stoked the fears that swept the global financial system. Taxpayers had to step in and provide new capital as part of efforts to restore confidence.
Still, Mr. Tarullo sees remaining areas of concern. He focused on the markets where Wall Street banks borrow huge sums of money for short periods. They use their borrowings in these so-called wholesale markets to then buy assets. But in times of stress, like 2008, these markets can dry up. Deprived of their lifeblood, banks rush to sell off the assets they bought with their wholesale borrowings, which can set off a wider collapse."
'via Blog this'
Don't you just love how money loving fools dick around with terminology? Wholesale, periods, assets, insufficient capital, comptrollers, global financial systems ... on and on. This week, beginning of May, at MooPig Financial Trends Department we are featuring a round of New York Times articles dealing with "Post Collapse" banking duct taping.
Yawn.
We get it, you can't even spell "punitive interest..." but for certain we must try to sort this out. Other wise we are seeing the collapse of the American Empire as we know it. We "must" get past these frustrated academicians who think money is science.
Can anyone say for certain just how bad it really is? Commentators must admit that they say confusing things on purpose, just to keep the status of banking worldwide the way it is... meant for only persons at the top.
__________________Reference
http://dealbook.nytimes.com/2013/05/03/fed-governor-pushes-for-measure-aimed-at-strengthening-large-banks/?src=recg
http://dealbook.nytimes.com/2013/05/01/in-brown-vitter-bill-a-banking-overhaul-with-possible-teeth/?src=recg
http://www.nytimes.com/2013/05/02/opinion/preying-on-pensioners.html?src=recg
http://www.nytimes.com/2013/05/03/opinion/need-for-payday-loans.html?src=recg
http://dealbook.nytimes.com/2013/05/03/scrutiny-falls-on-a-pioneer-at-jpmorgan/?src=recg
http://dealbook.nytimes.com/2013/05/02/jpmorgan-caught-in-swirl-of-regulatory-woes/
http://dealbook.nytimes.com/2013/05/03/jpmorgan-board-feels-heat-from-upset-shareholders/?ref=business
http://www.knowyourbank.com/blogs/too-big-to-fail/
4 comments:
heh heh...Right now I'm listening to Max Igan's radio show. He just said "The financial system is a pathogen".
So...you and I have been batting this whole money cartel stuff around for a good while now, eh?
I'm glad to see more and more people looking in to this topic. I wrote about Matt Taibbi's Rolling Stone article but, I did not mention one key thing: Matt actually put a number on the derivatives market, somewhere around $400 TRILLION. And, he went on to say that it's being manipulated LIBOR style. But, it's a big deal that somebody with mainstream cred actually uttered the number.
I digress.
"Don't you just love how money loving fools dick around with terminology?"
Yeah, this has been on my mind quite a bit. The language is a tool that is used to keep people in the dark. As I look in to stuff further and further, I keep running in to the concepts of common law, English common law.
The language used in statute law, the precise terms, come from English law. Here's a for instance: the legal term "driver" is defined as a person who is using a conveyance for commercial profit. If you are not hauling stuff or people for money, you are not "driving", you are traveling. However, when you apply for and receive a drivers license, and carry it with you as you go, you have effectively defined yourself as a "driver" (for profit) and are therefore subject to all driver statutes.
To that end, I have signed up for this course...https://www.coursera.org/course/engcomlaw
Should be fun. Are you aware of Cousera PD? I just found out about it...pretty cool.
Another link for you...http://www.peoplestrust1776.org/#
Sort of along the same lines...people are actively pursuing ways of taking back the system.
It has been your insistence, and your raw courage that has prevailed, Pribe's.
I would have just gone on with being "stoopid is: stoopid does" ... had you not reminded me that Central banks worldwide are privately owned. And that means some flaccid, tissue skinned, Honkey, somewhere in La-la land is making policy for us all, without any regard for life-liberty-well-being; or the common good is what he/she/it says it will be; plus or minus a few billion souls.
Yes you have slugged it out with those that be... and I have added a bit of satirical drivers to the cause, ... but is it enough?
Knowledge of this makes everything else moot. Yep, there is no logic to maintaining any high-minded decision making, institutional protectionist organization, or such, if we don't control the money.
For the average schmuck who just wants to work his forty hours, take care of the kids, and take his lady out on Friday night, ... even his "family budget" plans are sabotaged by money grubbing skallywags.
I have started and had to cash in four 401K's in my short lifetime. Pension grabbing slugs, back door money mechanics, and money changers ... all deserve our disgust.
Sidebar: I am a believer in online courses, and especially mind bending conceptual, or cognitive, building courses.
Thanks for the LINKS, I am looking into it.
"For the average schmuck who just wants to work his forty hours, take care of the kids, and take his lady out on Friday night, .."
As we go along, less of those 40hr/wk jobs even exist. The ones that remain are becoming more service related and less producing tangible stuff each day.
I know scads of people who had 401ks disappear in to the mist fostered by trusted stewards of money (transfer of dollars earned by producing tangibles to the service sector of the banking cartel...hatchet men).
The Taibbi article once again comes to mind. He is deeply concerned that those same type of hatchet men (albeit up the food chain from your local Edward Jones guy) are abusing some mythical set of honorable rules. At some point, people who see things this way will be ripe for the enlightenment that the "rules" don't matter, don't exist. It's not that they never have existed or can't at some future time. But, they don't now.
Look at any logical argument against BitCoin and apply the same logic to the Fed/International Central Banking Cartel and the worldwide system of fiat currency...do that honestly and it becomes clear.
But, as I ramble, the little shavers are being instructed not to trust the likes of me,,,,
"U.S. President Barack Obama gives the commencement address to the graduating class of The Ohio State University at Ohio Stadium on May 5, 2013 in Columbus, Ohio.
PRESIDENT OBAMA: Unfortunately, you've grown up hearing voices that incessantly warn of government as nothing more than some separate, sinister entity that's at the root of all our problems. Some of these same voices also do their best to gum up the works. They'll warn that tyranny always lurking just around the corner. You should reject these voices. Because what they suggest is that our brave, and creative, and unique experiment in self-rule is somehow just a sham with which we can't be trusted."
OMG!!!!! Look at this article:
http://gawker.com/the-chilling-case-of-fat-longpig-the-cannibal-with-a-493196615?utm_campaign=socialflow_gawker_facebook&utm_source=gawker_facebook&utm_medium=socialflow
Is this wanker providing fodder for the "elite" ... ? Rape kill and eat children?
And what now for "MooPig?" Is my moniker shot to hell? HELP!
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