Sort by time | Sort by thread (beta)
Link to this comment:
Share to:
Loading...
- Your queue is empty. Add videos to your queue using this button:
or sign in to load a different list.
Loading...Saving...
Dean Baker for Congress!
Peace. Jobs. Justice.
mtolives 3 years ago 2
How are these banks bankrupt!? I don't buy it!
U2Berror 3 years ago
U2Berror: Their liabilities exceed their assets. That equals Bankruptcy.
WadeBlazingame34 2 years ago
How badly mismanaged these banks have been. Once upon a time 23% interest was illegal. Now they go bankrupt charging this. Exorbitant ATM fees, bounced check fees, over limit fees, even fees for using a live tellers, and they are going bankrupt. What a bunch of assholes. If they charged everyone 5.9% interest for a house instead of gambling and playing games they wouldn't have such a stockpile of REO's. They aren't bankrupt. They're just property owners and they don't want to be. Jerks.
NanoLopez2 3 years ago 3
It was the CDS and overvalued property that was used as collateral that killed them....
Bosses rewarded Book value leveraged earnings so if you were able to loan out money loaned to your book assets why not keep build on them, in effect loaning out the same dollar to 10, 20 or more different times.
Thats where AIG came into the picture, they insured (for a small fee) the loans....and of coarse the were using "Bad" book values as well to show as collateral to back up their policies.
ubuibiok 3 years ago
Comment removed
ubuibiok 3 years ago
There is over 60 Trillion...not Billion, Trillion in Bad CDS paper out there. Thats why people like me have been screaming at the corrupt, stupid government elected beauty queens to stop paying to keep their friends business out of Bankruptcy court.
All the TARP was and is doing is keeping the same greedy people in charge of the big banks and corporations so that they can keep their paychecks and pass out Pink slips in a prolonged, drown out ,slow death as they look for a chance to jump ships.
ubuibiok 3 years ago
There are just too many toxic assets in the system for any kind of recovery in the near future. All I can say is that I'm glad I don't need to be employed anymore. When Social Security runs out of money, Il'l start worrying about it because Il'l have plenty of company then!
TECHKLEC 3 years ago