Posted on 11/09/2015 10:21:49 AM PST by PAR35
Big banks better start looking under the couch cushions. They need to come up with $1.2 trillion to fortify themselves from the next financial meltdown.
Global financial regulators Monday issued new rules that are designed to prevent a failing big bank from dragging down the entire financial system. That's what happened in 2008 when Lehman Brothers imploded, sparking the worst financial crisis since the Great Depression.
...
Wells Fargo (WFC) and JPMorgan are the U.S. banks most vulnerable to the new G20 rules, Morningstar's Baker said. He estimates Wells Fargo may need to raise up to $30 billion, while JPMorgan could need $25 billion.
(Excerpt) Read more at money.cnn.com ...
Cyprus here we come...
Ah, what the heck. Go ahead. Money is so cheap now there’s no money to be had by saving it, anyway.
No biggie. They can borrow the reserves at 0% at the fed.
So what’s the hold up? 0bama HAS a Pen and a Phone! *SPIT*
The Federal Reserve, whose responsibility it is to protect Wall Street, not average Americans, will no doubt come up with a way to strip mine the middle class to help bail out their member banks
Which is why I’m cashing out all of my 401ks and paying the penalty
Why, it wasn't long ago we were reading how Wells Fargo was the best-run big bank in America - totally immune to the impact of the shenanigans other banks were pulling. Does this mean the financial magazines were lying to us? Say it isn't so! :)
Once you have cashed out your 401K, what then? You still have to deal with both Federal Reserve banks and the U.S. government
They paid back the last bailout already. Why did they pay it back so fast if they were having issues. They could have extended the playback for a few years until the problems were fixed.
Put it towards some kind of income producing asset or skillset ... or both. It’s not guaranteed but it is all that is left.
Yep, just do a ‘bail-in’ and everything will be peachy keen...
Excellent idea! This will be sure to spur lending and lead to new economic growth. LOL!
“Put it towards some kind of income producing asset or skillset ... or both. It’s not guaranteed but it is all that is left.”
In the Obama Economy, the best investment you can make is Section-8 eligible small trailer park rentals. They are frickken money-printing machines.
TRUST ME....
Wrong. Currently, the Discount Rate is 0.75%. And the government wants them to issue long term debt, not borrow overnight.
LET THEM ROT
too big to fail is nonsense
capitalism involves FAILURE
of course Lehman was set up and AIG... THE REAL CRIMINAL WAS BAILED...
DERIVATIVES, CREDIT DEFAULT SWAPS, COUNTERPARTY RISK IS ALL PART OF THE INVISIBLE GAME that is OUT OF CONTROL and can/will take the world financial system down.... when people wake up AND DEMAND A FED AUDIT....
wait till you see how much money went to FOREIGN BANKS.... FROM YOUR TAXPAYER WALLET
maybe the big Wall Street / World banks should get some of their CEO bonuses back as well as their pay offs to their political friends. I’m sure that would generate more than enough.
If I don’t cash out...what then? At least if I build a business now it has a chance to succeed in the future. If I wait until the stolen 401k/IRA money can’t be paid back, I’m screwed. To whit, if you cash out your 401k early, why do you have to pay the penalty to the IRS? You have to pay the tax to the IRS, but why the penalty also?
Wells-Fargo, the San Francisco-based pro-homo before it was required to be bank. Glad to see them go under.
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