RSS available
| MarketTicker Forums Read Message in Ticker |
User: Not logged on
|
| Top | Forum Top | Login | Control Panel | FAQ | Register | Logout |
| Showing Page 1 of 5 | First | 1 | 2 | 3 | 4 | 5 | Last |
| User Info | Is The FDIC Broke And Covering It Up? in forum [Ticker] | |||
|
Genesis Posts: 71432 Incept: 2007-06-26 
KD^2 
|
http://market-ticker.org/archives/1283-I....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-08-02 12:12:19
Permalink | |||
|
Scrood Posts: 1999 Incept: 2008-05-17 
Green Shoots! Online
|
oh oh
---------- CTRL-GALT-DELETE
2009-08-02 12:14:01
Permalink | |||
|
Magnus Posts: 96 Incept: 2009-06-04 Sweden
|
Where in the financial system could the cost for covering this be recoverd thru taxation?
2009-08-02 12:18:28
Permalink | |||
|
1lumpsum Posts: 1733 Incept: 2008-02-01 
Nashville Online
|
They're covering it up? Since when? They're not doing a very good job of covering it up. I don't know much but even I know they have been broke for years. You can't insure trillions with only tens of billions to back it up.
Last modified:
2009-08-02 12:24:51 by 1lumpsum
| |||
|
Mm^^ Posts: 2330 Incept: 2008-10-01
Gone, Baby, Gone
|
Now, that's what I'm talking about! Hey, Karl. would you accept an appointment as Special Prosecutor? That would be the only way I can think of to get some action taken. It's obvious our Congress is complicit, and the banks are buying them off. Let's start calling out these crooks, and maybe we will get a little justice. ---------- I always leave cookies.
2009-08-02 12:26:03
Permalink | |||
|
Jal Posts: 47 Incept: 2009-03-25
|
Banks need cash and are raising cash in the markets. However, are they also using their other tool, (other businesses are), cutting cost, wages and laying off before FDIC comes in and clean them out?. jal
2009-08-02 12:29:02
Permalink | |||
|
Pabloescobar Posts: 5325 Incept: 2008-04-23
Pacific Northwest
|
Reading the press on Friday implied to me that the bank feels like it is going to do something a bank hasn't done in a long time. Go upside down on their cash flow after running out of assets to make the negative flow good. When a company does that, the check bounces. When a bank tells depositors they can't withdraw money, because the kitty is empty, then boom. ---------- “Science is built up with facts, as a house is with stones. But a collection of facts is no more a science than a heap of stones is a house.” - Jules Henri Poincare
2009-08-02 12:39:21
Permalink | |||
|
Jmanng Posts: 135 Incept: 2009-01-03 Boston, Massachusetts, USA
|
Hey Karl, Didn't the FDIC stop collecting fees from banks at one point (I think it was during Bush's administration) because regulators thought that there was no way banks could fail? Do you know how much more money FDIC would have right now if they had collected the fees duing the "good" years? It just amazes me that regulators can be that stupid. Edit: Add Link http://www.calculatedriskblog.com/2009/0.... Quote:... a booming economy left banks flush with cash, and by 1996 the insurance fund was considered so large that it could grow through interest payments and fees charged only to banks with high credit risk. Congress agreed that premiums didn't need to be collected if the fund was sustained at a level that was considered safe. Thus, about 95 percent of banks paid no premiums from 1996 to 2006 ... Idiots. What is the point of insurance if you're not going to collect the insurance premiums. ---------- Land of the free, home of the pigmen? We're restoring the Republic.  Last modified:
2009-08-02 12:52:34 by jmanng
| |||
|
Mm^^ Posts: 2330 Incept: 2008-10-01
Gone, Baby, Gone
|
Jmanng, this has a name because its so common. REGULATORY CAPTURE. ---------- I always leave cookies.
2009-08-02 12:45:30
Permalink | |||
|
Antone Posts: 3820 Incept: 2008-02-03
This ain't your grandpa's depression.
|
FDIC will tap the Treasury line of credit. The deficit will widen causing Treasury to issue even more bonds. Eventually foreign debt buyers say 'no mas' causing Primary Dealers to cover stuffing them to the gills with T's. Treasuries are perceived as high risk as US credit rating put into question. We have our infamous bond market dislocation, PD's are instantly insolvent, and we have the 30's again only worse. Sounds like a grand ole time.
---------- Wir sind gefickt. I do not provide investing advice.
2009-08-02 12:51:33
Permalink | |||
|
Froghat Posts: 213 Incept: 2009-01-28 Banned
|
Karl, the numbers don't lie. You need to show me the math before you post rumors such as this. lol
2009-08-02 12:52:08
Permalink | |||
|
Muscleknight Posts: 2791 Incept: 2007-06-26 Columbia, SC
|
I knew FDIC insurance was worthless. I kept trying tell people that if enough banks failed all at once that the FDIC wouldn't have enough to cover everyone. Its now happening before their eyes.
---------- My Financial Avatars - http://s677.photobucket.com/albums/vv131.... The best lies have elements of truth. If my uncle jack helped you off an elephant, would you help my uncle jack off an elephant? Yesterday's Tinfoil is Today's news
2009-08-02 12:52:26
Permalink | |||
|
Hihoherewego Posts: 595 Incept: 2009-02-25
|
What does Franz Reichelt, the Eiffel Tower, our Economy, and the FDIC have in common? http://www.youtube.com/watch?v=BepyTSzue.... .......... "Don't love your country, love your government." Last modified:
2009-08-02 12:56:09 by hihoherewego
| |||
|
Coolhandluke Posts: 5637 Incept: 2007-12-19
Out of the box
|
If you are not a member of a Credit Union I would advise that you open an account ASAP and start taking advantage of their services. ---------- It's not that I'm lazy, I just don't give a **** anymore.
2009-08-02 12:56:49
Permalink | |||
|
Statusquojoe Posts: 2397 Incept: 2008-11-20
Land of the fees Home of the slaves.
|
A newb's question here. If a person has a mortgage with a lender who is the same entity as their bank, and that bank is closed what happens to the mortgage is it passed along through the bankruptcy? What happens to the interim payment obligations?
---------- "In short, you are the definition of moral hazard." Senator Bunning to Bernanke
2009-08-02 12:57:40
Permalink | |||
|
Laserman Posts: 265 Incept: 2009-07-22 The 909 is fine! I love the Inland Empire! Banned
|
Quote:You can't insure trillions with only tens of billions to back it up. The entire modern economy is built on a 10:1 leverage. Housing in SoCal was pushing leverage of 30:1, hence the crash Quote:I kept trying tell people that if enough banks failed all at once that the FDIC wouldn't have enough to cover everyone. Its now happening before their eyes. That's the problem with any insurance, or quite frankly many modern concepts. Hospitals, grocery, health/car insurance, etc etc are not designed to be pulled from all at once. They do not have the capaciy to serve all. I've been an advocate of dropping the concept of insurance all together. Watch the price of health care and auto body repair drop like an ACME Anvil. You can only charge what people have in their pockets to pay, and without insurance that $ amount drops precipitously. We had a baby 5 years ago. I called various hospitals to find the best one, but also asked how much it costs. One lady said "with or without insurance?" I replied "what's the diffrence?" She proceeded to tell me if yo pay cash, they charge less to help you out. If you pay with ins., they charge $3000 more becasuse they are simply billing a company with the capacity to pay more. Sick. ---------- I don't make the bombs we build, I make the bombs we build better...
2009-08-02 13:04:11
Permalink | |||
|
Antone Posts: 3820 Incept: 2008-02-03
This ain't your grandpa's depression.
|
The Just-In-Time economy was always destined for failure. Can they continue this for a while longer, yeah of course, but as Karl has made famous: The Math Never Lies®.
---------- Wir sind gefickt. I do not provide investing advice.
2009-08-02 13:09:26
Permalink | |||
|
Fidgit Posts: 14065 Incept: 2008-02-18
AllyBammy
|
Quote:I've been an advocate of dropping the concept of insurance all together. Watch the price of health care and auto body repair drop like an ACME Anvil. Absolutely. Scams that hopefully will be out the door before .gov officially usurps them... ---------- I say it's spinach, and I say the hell with it.
2009-08-02 13:10:38
Permalink | |||
|
Btimsah Posts: 1 Incept: 2009-03-26 Oklahoma City
|
Banking collapses should really get underway after Christmas of 2009, right? I think we're up to 69 (sixty niiiiine!) shutdown banks this year, up from 23 last year. Hmm.. green shoots my ass.
---------- LibertarianReport.com
2009-08-02 13:13:32
Permalink | |||
|
Archaen Posts: 45 Incept: 2009-04-03
Las Vegas
|
I think with Gen's insight here that the FDIC has a negative tier one capital reserve. Doesn't that mean they should seize themselves and disappear in a puff of logic? Oh that's right, there is a Zeno's paradox between a politician/bureaucrat's brain and any semblance of complete logic.
---------- The free nation gradually constricting its grip on public discourse has begun its rapid slide into despotism. Beware of he who would deny you access to information, for in his heart he dreams himself your master. SMAC
2009-08-02 13:14:16
Permalink | |||
|
Ilikecoffee Posts: 1019 Incept: 2008-04-17
cold , AK
|
Gen, Yours is the only reasonable explanation of the Guaranty situation. It makes you wonder how many bankers are sick of living the lie and are desperately awaiting the FDIC? The debt will continue to grow exponentially. That is what math does. If our debt is 1.8 trillion now, then where are we headed by the end of Obama's term? I'll take the over at 5 trillion. ---------- You can trust the government, ask any American Indian. "When people lose everything and they have nothing left to lose, they lose it" Gerald Celente
2009-08-02 13:16:05
Permalink | |||
|
Murf Posts: 2814 Incept: 2007-08-28
the surf Online
|
Yep, it's an open secret that FDIC doesn't have enough money to protect the banking system. I've mentioned it every time I write my Congress creeps. When TSHTF it won't take historians long to point out the massive mistakes that have been made because they are there in plain sight for those who will look. Our leadership will simply look retarded. ---------- The recovery up is losing steam
2009-08-02 13:18:29
Permalink | |||
|
Micronin127 Posts: 607 Incept: 2008-01-21
Swampscott, MA
|
Wait until they start to value US Treasuries as Level 2 assets because the 'observable sales' are declared to be 'distressed'. I can hear it now: "Our mathematical model is based on the assumption that these recent sales of US Treasuries are distressed and the marks can be ignored, we intend to hold these bonds to maturity and will continue to value them at par..."
2009-08-02 13:22:02
Permalink | |||
|
Buckeye Posts: 304 Incept: 2008-03-03
|
I like this little info from FDIC on Colonial Bank. The past due loans on single family homes has risen from 51,000 to 85,000. How do you stay in business with 85,000 homeowners not paying? Last modified:
2009-08-02 13:25:25 by buckeye
| |||
|
Ptoemmes Posts: 79 Incept: 2009-04-13 Online
|
Gen Since you mentioned accounting practices I apologize if this has already been posted. Actually I think you did post it a while back - anyway it seems applicable here again. Via ZH: http://business.theatlantic.com/2009/07/.... " Attention: This may be the single most important piece of news regarding the financial industry you will read this week. Maybe for the whole month. Maybe for the whole year. Okay I'll stop being melodramatic and get right to it. The Financial Accounting Standards Board (FASB) is in the process of making banks very unhappy. In a complete reversal from their revised policy released in April, it is considering vastly tightening mark-to-market requirements to include virtually all securities on a bank's balance sheet. Yes, it even wants the very, very illiquid stuff marked-to-market. " On a anecdotal note my wife has been trying to find a bank for some of her mom's (suffering from dementia) funds. Long story to that, but at SunTrust where we have business accounts we learned that even when you open up a personal account you get "linked" by individual name. Why, you might ask? Well it turns out if any one one the accounts associated with your name has "issues" then all accounts with "your name" are fair game even across business-personal account types. So, off to Bank Atlantic - yes they of the midnight earnings report - and they take a bank check from closing the one-week-old SunTrust mom account and hold the funds 10 business days without telling us You guessed it - overdrafts. SunTrust and Bank Atlantic branches were within walking distance and wife wanted the convenience, but our personal stuff IS at a CU so, now, so will mom's. My wife sometimes has some odd thought patterns...but I love her. Pete
2009-08-02 13:33:16
Permalink | |||
| Top | Forum Top | Login | Control Panel | Logout |
| Showing Page 1 of 5 | First | 1 | 2 | 3 | 4 | 5 | Last |