Posted on 11/09/2015 10:21:49 AM PST by PAR35
Shocks the hell out of me.
The idea behind this latest rule is to reduce their leverage and give them such a large cushion that they can't fail. It's mostly overkill and will slow the economy, so par for the course for Obama.
when people wake up AND DEMAND A FED AUDIT.... wait till you see how much money went to FOREIGN BANKS.... FROM YOUR TAXPAYER WALLET
The Fed gave zero "FROM YOUR TAXPAYER WALLET" to anyone, foreign or domestic.
Because they said so. And they want ultimate control of your money ... which they have ... and we let them have.
Ultimately it is our fault for going along with such ‘rules’ about our own money to begin with.
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 bank.”
And if the Federal Reserve doesn’t do it, the Republican controlled Congress will.
Exactly. We can even mint a couple of trillion dollar coins, (made of platinum after all platinum ain’t cheap) slap Obama’s smug mug on ‘em, and call the problem “solved” right there.
Must impoverish the middle class in order to make them beg for more government control over their lives.
First, they’ll need to get us to ‘swish’ like the Swedes. All that money in the banks, who could resist?
Yes
1.2T? No problem. Either Congress could pass legislation or POTUS could give pardon/amnesty to all the overseas/untaxed money. $3T sitting overseas because of our oppressive tax system.
Dumb move. Really Dumb. Don't do it until you get the final figure from your CPA. Its not just a 10% penalty.
I’ve become convinced that this country is going to elect the next Pol Pot or Hitler on promises to hold televised public floggings of bankers, live from Yankee Stadium.
And CEO’s.
Because it’s the IRS.
If banks do not lend on their deposits, as they used to do, and many banks have very little in the way of deposits now, how the heck does the banking system work? Remember when banks would do almost anything to get deposits? Free toaster ovens and other items? Now they seem annoyed if you have a savings account. If they are not lending on deposits, it must all be a house of cards.
Slice and dice and create derivatives. I'll take interest only months 72 to 86 of that package of 30 year mortgages.
[$1.2 trillion]
What? No problem? We can come up with that by morning. Start the presses.
In fact, I may have that much on me right now. Let me check my pockets.
Banks still lend on their deposits. The problem is that deposits tend to be pulled out of banks at the times when banks need them most (recall the scene from Its a Wonderful Life). To make them less susceptible to liquidity issues, the fed wants them to take on more long term debt which is more stable. Also, if a bank does eat through its equity, losses will then fall on these creditors and not on depositors, who the FDIC then has to make whole.
[but why the penalty also?]
So they can hold back a place to rob like Illinois did with their lottery money they have to re-budget for now?
Good thing they won’t use that $1.2T to do banking things like loan money to businesses to create jobs.
Can’t have that.
People might become independent. Too much freedom is dangerous to the Uniparty.
The lending they do is of their deposits.
and many banks have very little in the way of deposits now,
Our banks have over $2 trillion in excess reserves. Call it extra deposits.
Even if so, they should be allowed to crash. Trouble with that though, is that they'll figure out a way to strip people of investments, then keep all the loot when things rebound.
Can we just line them up against the walls and shoot them this time?
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