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Thread: Paul Ryan

  1. #51
    Senior Member menmon's Avatar
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    Quote Originally Posted by cpj View Post
    Thanks for the compliment sambo. I imagine a bank Holliday would be declared before an all out run could occur.
    So give them a day to find out just how broke they were....I would have been camped out on their door step waiting for the doors to open again.

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    Where is it written that a bank Holliday has to last a day? Somewhere in Europe recently, can't remember which broke country it was, ATM network was down for I believe 10-14 days due to a "computer glitch". Makes getting your cash a little harder and slows down significantly the outflow of cash.

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    Quote Originally Posted by sambo View Post
    So give them a day to find out just how broke they were....I would have been camped out on their door step waiting for the doors to open again.
    Even if you are right and there was a bank run, have you ever heard of the FDIC?

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    Quote Originally Posted by cpj View Post
    Where is it written that a bank Holliday has to last a day? Somewhere in Europe recently, can't remember which broke country it was, ATM network was down for I believe 10-14 days due to a "computer glitch". Makes getting your cash a little harder and slows down significantly the outflow of cash.
    so if you called your bank on monday morning and they said. "I'm sorry we're closed and your money will not be available to you until we decide to reopen"

    That'd be okay?
    "I'm gonna lean up against you, and you lean up against me. That way we don't hafta sleep with our heads in the mud"
    Forrest Gump, 1994

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    Quote Originally Posted by caryalsobrook View Post
    Even if you are right and there was a bank run, have you ever heard of the FDIC?

    and the fdic is solvent? and if they were, when all banks failed, how long would it take to pay everyone's claims? years years years.

    I do not advocate the WAY the banking bailout happened.... banks were given free money and free reign with what to do with it.....

    BUT... I certainly would not have wanted to have to wait on the FDIC to pay my insured claim in order to put gas in my tank or get groceries. how much cash do you keep on hand?? couple year's worth of grocery/gas money?
    "I'm gonna lean up against you, and you lean up against me. That way we don't hafta sleep with our heads in the mud"
    Forrest Gump, 1994

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    Quote Originally Posted by ARay11 View Post
    and the fdic is solvent? and if they were, when all banks failed, how long would it take to pay everyone's claims? years years years.

    I do not advocate the WAY the banking bailout happened.... banks were given free money and free reign with what to do with it.....

    BUT... I certainly would not have wanted to have to wait on the FDIC to pay my insured claim in order to put gas in my tank or get groceries. how much cash do you keep on hand?? couple year's worth of grocery/gas money?
    the FED printed the money to bail out the banks. Don't you think that they could print it to to keep the FDIC solvent????

  7. #57
    Senior Member menmon's Avatar
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    Quote Originally Posted by caryalsobrook View Post
    Even if you are right and there was a bank run, have you ever heard of the FDIC?
    I have....have you ever tried to collect....they pay but they negotiate it down....if you were around in the 80s when the banks were failing..you would remember that.

    But this was too big.....paying out trillions is insurance claims is not as good of a solution as loaning money to keep these banks doors open and let them earn their way out of the problem as all of them are doing now. Look up the 10ks on the major banks and see just how low their teir 1 capital is and even their total risk based capital, and see just how thin of ice they still are on. Check a few of the community banks too while you are at it...you can pull their call reports from the FDIC's website. Pay close attention to the provision for bad debt expense....look at the percentage of non-accrual loans against total loans too. The guy that spoke about $600MM is assets....I'd be curious what percentage of those asset are critisized and how much teir 1 capital they have.

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    Quote Originally Posted by caryalsobrook View Post
    the FED printed the money to bail out the banks. Don't you think that they could print it to to keep the FDIC solvent????
    do i think they "could"...yes... do I think they "would" ... not fast enough. Just how much time would it take to reimburse every citizen.... every company.... every kid with a savings account?? and who gets paid first? people or companies?? And what would be the ripple effect ?

    how fast do you think the entire country would go down hill if average citizens did not have access to money for even one week?

    Your employer cannot pay you. Your money is locked up and you only have $500 bucks in your pocket. Now then.... think about those folks who don't have $500, they don't have $50 in their pockets....many don't even have $5

    Folks have what fuel is in their cars...and maybe a bit extra depending on how much cash they had on hand when it all went wrong.... After a week or two, no one can get to work (no fuel and no way to purchase more).... That same time period would see mass rioting in the streets.....you think katrina was bad in new orleans??? Imagine folks who cant get money for groceries.... or get paid to get money for groceries....

    Think there wouldnt be mass panic?
    "I'm gonna lean up against you, and you lean up against me. That way we don't hafta sleep with our heads in the mud"
    Forrest Gump, 1994

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    Quote Originally Posted by ARay11 View Post
    do i think they "could"...yes... do I think they "would" ... not fast enough. Just how much time would it take to reimburse every citizen.... every company.... every kid with a savings account?? and who gets paid first? people or companies?? And what would be the ripple effect ?

    how fast do you think the entire country would go down hill if average citizens did not have access to money for even one week?

    Your employer cannot pay you. Your money is locked up and you only have $500 bucks in your pocket. Now then.... think about those folks who don't have $500, they don't have $50 in their pockets....many don't even have $5

    Folks have what fuel is in their cars...and maybe a bit extra depending on how much cash they had on hand when it all went wrong.... After a week or two, no one can get to work (no fuel and no way to purchase more).... That same time period would see mass rioting in the streets.....you think katrina was bad in new orleans??? Imagine folks who cant get money for groceries.... or get paid to get money for groceries....

    Think there wouldnt be mass panic?
    Economists will be argueing what the result would have been had there been no tarp. The arguement was that the banks were to big to let fail but we don't even know which banks would have failed, certainly not all of them. Today they are bigger than in 2008, so do you believe the situation is any better today than in 2008? Many banks were made to take money even though they did not want it. the interesting thing is that almost all was paid back in less than 3 years, with interest. Evidently they recovered in whirlwind speed.

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    Well Paul Ryan did a good job in Fl no one threw eggs at him and looks like the polls agree.
    Last edited by gmhr1; 08-19-2012 at 10:33 AM.
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