Paul Ryan

[cpj]

Does anyone here believe a financial crisis/crash is in our near future? FDIC is under funded. Taxpayers will foot any bills that FDIC can't. Recently the citizens of Iceland were allowed to vote on whether to bail out their banks or not and they chose to let tem fail. They are now seeing economic prosperity. I had an account at a Failed S&L in the 80's. I believe it took a few days to get my money.

[Buzz]

Does anyone here believe a financial crisis/crash is in our near future? FDIC is under funded. Taxpayers will foot any bills that FDIC can't. Recently the citizens of Iceland were allowed to vote on whether to bail out their banks or not and they chose to let tem fail. They are now seeing economic prosperity. I had an account at a Failed S&L in the 80's. I believe it took a few days to get my money.

It must feel odd agreeing with Paul Krugman.

http://www.chron.com/opinion/outlook...ps-2241646.php

[cpj]

Doesn't sound like Krugman agrees with me. Krugman collects printers as a hobby.

[menmon]

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.

That is what some banks told the public so they could appear better....all the major banks needed it. Just look at their balance sheets now 4 years later...a little better but still not out of the woods completely.

[caryalsobrook]

That is what some banks told the public so they could appear better....all the major banks needed it. Just look at their balance sheets now 4 years later...a little better but still not out of the woods completely.

They said they didn't want it. they paid it back early with interest, and you say those are still in trouble. You must be a regulator that keeps them straight. Maybe you were regulating JP morgan when they lost over 2 billion this year. GOOD JOB!! Regulators are so much smarter than the banks.

[menmon]

They paid it back after the waters settled down and they could sell stock. Again if you can read pull up BofA and JPM 10K and lets have a discussion about what all those numbers mean.

[M&K's Retrievers]

They paid it back after the waters settled down and they could sell stock. Again if you can read pull up BofA and JPM 10K and lets have a discussion about what all those numbers mean.

Having a bad day are we , Sambo, or do you always act like a jerk will attempting to make a point? Come to think of it you do.

[ARay11]

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.

Economists can argue all day long. Whether or not/ which ones/ how bad was it, etc.
My point is: If any of the big boys would have failed.... reality would no longer matter.... The only thing that would matter would be the public's perception.
And, that perception would have caused mass public panic. That panic would have caused huge problems for every bank.

Is the situation better today? Absolutely not.
Public perception still reigns supreme, and the media frenzy wags the dog.

[menmon]

ARAY we agree....

I'm not having a bad day....I just was tired of being argued with about something I know.

[ARay11]

ARAY we agree....

I'm not having a bad day....I just was tired of being argued with about something I know.

SHHHHH!!!!