FDIC bailout, German elections

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[herbs814]

Easy credit credit comes from the Fed printing excess currency and loosening reserve requirements, NOT from the free market. Because FDIC insures deposits, it encourages banks to be reckless with their deposits, including lending to unqualified borrowers.

How much slower do I need to explain this before you understand? You do not have a clue how much government insurance distorts the market. Learn something before you embarrass yourself.

[chgoyette]

Great explanation on moral hazard for banks due to FDIC policy! Thank you Peter Schiff.

Schiff for Senate!

[87solarsky]

"their possum is at risk, no matter how large it is!" whohhahahahaa

[jizzmonger]

What happens to all the money and assets the insurance company has insured if you let it fail?

The ideal thing to do is to keep them well regulated so they don't get that way in the first place, don't ya think?

[decepticonsofnwo]

You are a fucking bafoon, herbs814 is pointing out to u the fundamentals of capitalism where gov. does not intrude on the free markets, the to big to fails should not be getting bailed out at the expense of the american people, this is called socialism and it fails, quit insulting people and study up

[louiethegreater]

Peter why don't you just move to one of those countries that has less government.

[r8qt7]

I'm from Germany and even with the election it's not necessary swinging to lesser government (and I don't think that this would be the right way anyway).

We'll see the path in the future but the CDU (conservative party) won't kill social security in that degree that the fdp (liberterian party) would want to

[Paolo7219]

Excellent video. Worth watching more than once to get all the information. Mr. Schiff says, "We have only scratched the surface...". That sounds ominous. Sooner or later, people will find out how corrupt the banks are. The taxpayer has been bailing out failing banks for a long time. In the 70's, Continental Bank of Illinois was bailed out--because they were reckless, to make a long story short. Continental--at the time--was the 7th largest bank in the country. Thanks for the video, Mr. Schiff.

[herbs814]

things were not fine. FDR made the recession worse by his socialist interventions. It is because of FDIC and Fannie and Freddie and higher taxes and govt spending and regulation and other intrusions that the depression lasted a decade. Then these same intrusions aggravated the recessions in 1958-1960, 1968-1980, 1987, 1991-92, 2001-02, 2007--?? Government has ALWAYS been a problem aggravating the economy. And it is long overdue that government be eliminated from the economy.

[jizzmonger]

There isn't enough here to prove you have no clue in 500 characters so I will simply ask you this question.

Why were things fine for 60 + years after the depression until the 80's when Reagan deregulated which led to the Savings and Loan scandal?

If what you are saying is true, why didn't the system fail loooonnnnnnnggggg ago?