A New Fed Thought for 'Too Big to Fail' Banks: Shrink Them - NYTimes.com

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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/

Chilean Miners Rescued, But Were They Saved? - 60 Minutes - CBS News

Camp HOPE
Retrieved by Pat Darnell

On February 13 this year, I watched this segment of the TV show "60 Minutes." Here is an excerpt; if you want to watch the show click on the LINK ...

Chilean Miners Rescued, But Were They Saved? - 60 Minutes - CBS News: "(CBS) It attracted more than a billion viewers worldwide - one of the most watched television events ever: people were mesmerized as the 33 Chilean miners stepped from darkness into light. It might have been the greatest rescue operation since Noah's Ark. And the miners? They were lionized, living proof that in this software century courage and endurance have not disappeared." (LINK)

EXCERPT  |  " ... Even under these conditions, the men maintained remarkable discipline. They voted on everything, and they stuck to a daily schedule - a general meeting, followed by a prayer service. Then, they had what they called dinner.

Franklin, who gained unprecedented access to the miners, has written a book called "33 Men." He says the men always divided their food evenly even when they were down to one teaspoon of tuna every 48 hours.

But by day 16, Franklin says the miners were all starving and realized they would have to eat the first man who died.

"They told me that they had a pot and a saw ready," Franklin explained.

"Do you think that the potential candidates knew who they were?" Simon asked.

"One of the candidates told me that the guys had been joking, 'Hey, if you die in your sleep, you know, you're gonna be breakfast, lunch and dinner.' So those last few nights he said he couldn't sleep. He was too afraid that if he died that his companions would end up eating him," Franklin said.

Mario Sepulveda, who emerged as the leader of the group early on, says he thought it was only a matter of time.

"How long do you think it would have been before you had to do it?" Simon asked.

"I would say five or ten days. I don't know. But I was gonna get out of there no matter what. Food, or no food, I was gonna get out of there. How? I had to think about which miner was going to collapse first and then I started thinking about how I was going to eat him, I promise you, I wasn't embarrassed, I wasn't scared," Sepulveda said. (60 minutes. Feb 13, 2011. LINK) ... "