Comments on: Bankster Bluster Leads to Legacy Loan Program Fail

By: BooRadley

BooRadley — Sat, 30 May 2009 10:00:29 +0000

Great comment.

Thank you for all you do for FDL and the taxpayers.

By: masaccio

masaccio — Sat, 30 May 2009 04:54:34 +0000

I don’t see any evidence to support your view. It looks to me like Geithner is ready to keep on the same idiot track the Bushies started us on regardless of the evidence. In particular, the stress tests were correctly described on Saturday Night Live as Pass/Pass. The profit figures for the first quarter are suspect. I hope you are right, though.

By: MarkH

MarkH — Sat, 30 May 2009 03:20:35 +0000

Massive public reactions tend to override the bought. But, more than that, I think Geithner and Bernanke are sensible and won’t keep insolvent banks lingering like zombies after the economy is stronger. They’ve only been propped up so long as their failure would have been disastrous for the rest of the economy.

By: MarkH

MarkH — Sat, 30 May 2009 03:13:31 +0000

The banksters are doing their damndest to keep the rules of the game intact that allowed them to sink the economy.

They are idiots if they think we don’t realize that. Regulations reform is on the way and if those banks aren’t strong enough they’re in trouble.

Q: How much does the national economy depend upon the big banks (the ones receiving TARP funds) for credit/lending?

If we get to a day when the economy can get by without so much from them, then what’s our incentive to prop them up. They need to get their acts together before that day arrives.

By: MarkH

MarkH — Sat, 30 May 2009 03:08:50 +0000

The big question is how long the banks can wait for housing prices, and therefore their toxic assets, to rise from the ashes. If the economy returns to robust growth and the failure of one of these banks can be accepted, then there’s no reason for the gov’t to prop it up. At that point they might be allowed to fail. But, if they sell the toxic assets at some point before that, then maybe they can get on with doing normal business again.

Of course, it’s also possible they can simply ride it all out, like a mortgage company sitting on houses it can’t sell without losing everything.

We’ll see.

By: OsborneInk

OsborneInk — Fri, 29 May 2009 23:18:18 +0000

By now, the FDIC has hired thousands of new personnel and can handle a CitiBank failure, methinks. So ya know what? Let ’em fail if they want to go that route.

By: TheLurkingMod

TheLurkingMod — Fri, 29 May 2009 21:32:13 +0000

Swopa is upstairs!
Stuart Taylor: Sotomayor Not Just a Student Radical, but an Uppity Minority Female

By: Ann in AZ

Ann in AZ — Fri, 29 May 2009 21:31:52 +0000

Seems to me a large part of the problem is the banks’ feelings of entitlement. They don’t seem to be used to taking no for an answer; they’re used to calling all the shots and always coming out ahead of anyone else who dares to go up against them, including the gov’t, who they have bought and paid for.

By: Skilly

Skilly — Fri, 29 May 2009 21:26:41 +0000

Any posters here currently in chicago for the NACBA?

By: Ann in AZ

Ann in AZ — Fri, 29 May 2009 21:16:05 +0000

Now that’s a change I can believe in!