Coming Soon: Banking Crisis of Historic Proportions [View article]
THANK YOU MR. BUSH AND #$%^& REPUBS.
On Aug 16 07:33 AM Moon Kil Woong wrote:
> If you hadn't noticed big banks, especially the ones to big to fail > are feasting off the carnage of littler banks and off of their customers > both depositors (who get almost no interest) and borrowers who they > keep raising rates on. I know, some may argue that banks are loaning > at historically low rates to new homeowners, but look at the reason > why. The government is using Fannie Mae and Freddie Mac to buy up > all the unprofitably and economically unsound loans which they either > get the Fed to buy or write them off and charge it to the taxpayer > every quarter. > > So in essence, what do we have? An arbitrary, favoritist, banking > sector brough on by direct government intervention. All I can say > is, "What do you expect when you let government interfere to this > extent in the market?" If you think you are going to do well get > in the giant line of people willing to bow down and kiss politicians > and bureaucrats feet.
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Coming Soon: Banking Crisis of Historic Proportions [View article]
On Aug 16 07:33 AM Moon Kil Woong wrote:
> If you hadn't noticed big banks, especially the ones to big to fail
> are feasting off the carnage of littler banks and off of their customers
> both depositors (who get almost no interest) and borrowers who they
> keep raising rates on. I know, some may argue that banks are loaning
> at historically low rates to new homeowners, but look at the reason
> why. The government is using Fannie Mae and Freddie Mac to buy up
> all the unprofitably and economically unsound loans which they either
> get the Fed to buy or write them off and charge it to the taxpayer
> every quarter.
>
> So in essence, what do we have? An arbitrary, favoritist, banking
> sector brough on by direct government intervention. All I can say
> is, "What do you expect when you let government interfere to this
> extent in the market?" If you think you are going to do well get
> in the giant line of people willing to bow down and kiss politicians
> and bureaucrats feet.
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