InnocentsAbroad

How the Banks Once Bailed Out America

Nice bit of history. If I'm not mistaken, these were Federally owned banks that sold shares to the public to raise capital for the owner (the Federal government).

Hard to believe it, but the Founding Fathers were entrepeneurs for the Federal government (state ownership of land and banks, an entrepeneurial Federal government buying and selling shares and land).

Later, when public complaints emerged about the conduct of the national (Federal banks), it was in the context of mismanagement as control slipped into the hands of early oligarchs.

Tier 1 Capital Ratios of Large U.S. Banks

Rather, allowing banks to report numbers which they know are false, and thus allowing the pillaging of the public purse.


On Jun 21 01:45 PM Fitz919 wrote:

> Who in their right mind would trust a bank to accurately report a
> Tier 1 number? It's pure nonsense, it will never happen. Notice
> how many are clustered around the 10% figure, it's a number they
> want us all to believe.
>
> If a regulator didn't have a clue that 10.5% of IndyMac's loans were
> producing no income, then a bank can hide anything they want to from
> anyone they want to. It was months before B of A knew how bad things
> really were at Merrill Lynch.
>
> What we have right now is the Government requiring banks to report
> numbers which they know are false, in order to maintain confidence
> in their badly broken system.