Does the USA need a perestroika?

[Kasz216]

ckmlb said:

Kasz216 said:

ckmlb said:
People seem to forget that a lot of small local banks also took on bad loans and have suffered because of it. Also, what happened to conservatives being protectionists?

You want foreign banks to own American ones? How does it sound to you if the Saudi government bought Bank of America?

Also, a lot of big foreign banks were linked to the crisis too such as UBS in Switzerland. Major Western European banks made low interest loans to people in Eastern Europe which will probably be where the next banking crisis comes from.

Except small local banks didn't take on bad loans and suffered because of it.  Not many anyway, because they were much more conservative in their lending polcies because they had to be... and because they couldn't afford to be in the loan securities swapping buisness.

List of small banks under high stress, because of bad loans that they were generally unprepared for:

http://www.msnbc.msn.com/id/29619237/ns/business-us_business/

368 of them.

Wow 368.

It's a good thing there are 8,400 banks and chains that have 500 million dollars or less in assets.