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Big banks: Six years after the financial crisis- still no "living wills"
2014 Jul 9, 12:27am 709 views 3 comments
by darlag follow (1)
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The criminal Banksters ... they live eternally, and thrive on willful ignorance. But they never fooled Woody:
"Yes, as through this world I've wandered
I've seen lots of funny men;
Some will rob you with a six-gun,
And some with a fountain pen.
And as through your life you travel,
Yes, as through your life you roam,
You won't never see an outlaw
Drive a family from their home."
Woodie Guthrie -
Heraclitusstudent
2014 Jul 9, 3:43am
Do we have regulations for rating agencies?
Derivatives?
Did we go back to to traditional mortgage underwriting, with 20% down-payment?
For maybe 6 months after 2008 there was a will to impose limits.
Regulators are back in bed with WS and they know this economy still depends on an obese financial system.
People should defend their laws like the walls of their cities.
Do we have regulations for rating agencies?
Derivatives?
Did we go back to to traditional mortgage underwriting, with 20% down-payment?
For maybe 6 months after 2008 there was a will to impose limits.
Regulators are back in bed with WS and they know this economy still depends on an obese financial system.
People should defend their laws like the walls of their cities.
During the peak of the last financial crisis, when the Fed sucked up dodgy assets, guess whose ratings they sought out? Even when it was clear that Moody's and S&P were complicit with the banks in a great fraud ring that collapsed the economy.
Kill the bankers!
"Another crisis within the next year or two would almost assuredly see a repeat of the government’s actions in 2008. The question is, will the tax paying public tolerate another round of bail outs? Or will they simply refuse to help the major financial institutions again, claiming moral hazard has been breached? After all, the banks have had six years to figure out how to handle another crisis. Certainly, that should have been enough time."
http://www.globaldeflationnews.com/living-wills-were-suppose-to-prevent-too-big-to-fail-banks-six-years-after-the-crisis-where-are-they/