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Forums - General - Does the USA need a perestroika?

ckmlb on 05 November 2009
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.



Thanks to Blacksaber for the sig!

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Kasz216 on 05 November 2009
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.



ckmlb on 05 November 2009
Kasz216 said:
ckmlb said:
Kasz216 said:

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.

You said there were not a lot of small banks, I didn't say it was the majority of small banks.



Thanks to Blacksaber for the sig!

Final-Fan on 05 November 2009

368 is not a lot out of 8400, when the failure rate of the BIG ones is much higher from what I hear.



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Kasz216 on 05 November 2009
ckmlb said:
Kasz216 said:
ckmlb said:

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.

You said there were not a lot of small banks, I didn't say it was the majority of small banks.

368 out of 8400 qualfies as a lot to you?



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ckmlb on 05 November 2009
Kasz216 said:
ckmlb said:
Kasz216 said:

Wow 368.

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

You said there were not a lot of small banks, I didn't say it was the majority of small banks.

368 out of 8400 qualfies as a lot to you?

The people affected by 368 bank failures would be pretty big yes.



Thanks to Blacksaber for the sig!

Kasz216 on 05 November 2009
ckmlb said:
Kasz216 said:
ckmlb said:

You said there were not a lot of small banks, I didn't say it was the majority of small banks.

368 out of 8400 qualfies as a lot to you?

The people affected by 368 bank failures would be pretty big yes.

Not really.  Not when we had billions in government spent funds that could of been given specifically been used for nonprofit loans.

Not to mention that dozens if not hundreds of banks popped up during this crisis.



ckmlb on 05 November 2009
Kasz216 said:
ckmlb said:
Kasz216 said:

368 out of 8400 qualfies as a lot to you?

The people affected by 368 bank failures would be pretty big yes.

Not really.  Not when we had billions in government spent funds that could of been given specifically been used for nonprofit loans.

Not to mention that dozens if not hundreds of banks popped up during this crisis.

Just because the money lost at the bigger banks was a much larger amount, it doesn't forgive the crimes of smaller banks and the problem was not a few people running big banks, but a much larger part of society.



Thanks to Blacksaber for the sig!

Kasz216 on 05 November 2009
ckmlb said:
Kasz216 said:
ckmlb said:

The people affected by 368 bank failures would be pretty big yes.

Not really.  Not when we had billions in government spent funds that could of been given specifically been used for nonprofit loans.

Not to mention that dozens if not hundreds of banks popped up during this crisis.

Just because the money lost at the bigger banks was a much larger amount, it doesn't forgive the crimes of smaller banks and the problem was not a few people running big banks, but a much larger part of society.

There just weren't as many crimes by small banks though, that's the point... because they're small.  They couldn't take as many risks because they didn't have the assets to absorb losses AND they new the government wouldn't be bailing them out.

As for problem of society as a whole.

If you mean not understanding bank loans... sure I guess.  I mean i don't think you understand the level things like subprime loans were pushed.

My uncle got a loan to buy his first house.  He was going to get a regular one until he was talked into a sub prime loan with the excuse that he could use the money he was going to give on a down payment towards improving his house and increasing his value.

I mean... what's up with that?



Sqrl on 05 November 2009
ckmlb said:
Kasz216 said:

Not really.  Not when we had billions in government spent funds that could of been given specifically been used for nonprofit loans.

Not to mention that dozens if not hundreds of banks popped up during this crisis.

Just because the money lost at the bigger banks was a much larger amount, it doesn't forgive the crimes of smaller banks and the problem was not a few people running big banks, but a much larger part of society.

What crimes did the smaller banks commit exactly?  I want to make sure I understand what your argument is rather than assume anything.
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