Is Basel III Already Prompting Bank Sales? [View article]
It is funny. Basel 2 was supposed to raise capital requirements of banks, but in 1998 when off balance sheet accounting was permitted, the banks actually were permitted to operate with very low capital requirements. All that was left to start the housing bubble in the US was the repeal of Glass-Steagall, so that banks could write swaps to protect themselves from buying and writing crap loans, and the table was set.
The housing bubble was not done by accident. It was a deliberate plan to reflate after what they knew was going to be a dot com crash. This was well known in 1998 because these banksters knew that crap IPO's were being written and investors were getting ripped off. So, off balance sheet banking was just another way to fool investors. This was no accident.
-
It is funny. Basel 2 was supposed to raise capital requirements of banks, but in 1998 when off balance sheet accounting was permitted, the banks actually were permitted to operate with very low capital requirements. All that was left to start the housing bubble in the US was the repeal of Glass-Steagall, so that banks could write swaps to protect themselves from buying and writing crap loans, and the table was set.
Jun 14 12:40 PM
|
1 Like
All Comments by Gary A »Is Basel III Already Prompting Bank Sales? [View article]
The housing bubble was not done by accident. It was a deliberate plan to reflate after what they knew was going to be a dot com crash. This was well known in 1998 because these banksters knew that crap IPO's were being written and investors were getting ripped off. So, off balance sheet banking was just another way to fool investors. This was no accident.