Comments on: First 100 Days: Fix the banks

By: Glen

Glen — Fri, 30 Jan 2009 20:29:53 +0000

I have always liked the idea of a “bad Bank” to clear off the balance sheets. I even suggest such somewhere else on these pages. The only thing that I would add is that the bank should make its acquisitions by auction. Secondary to that is to make sure that the new value flows through to the borrower and perhaps have a special capital gains tax if recapture, even progressively, any potential increase in values.

By: Damian Palmares

Damian Palmares — Thu, 29 Jan 2009 03:40:48 +0000

That’s not a bad idea Ugo…They should be held to even higher standards as it is not their money they are risking or gambling away, but an actual person’s life savings perhaps;that cannot be looked at or treated as a piece of paper. I think it’s safe to say that the careless and greedy Wall Street bankers will not survive once this is all over with and we have set new rules, regulations and boundaries. Also the CEO’s of large corporations and their pay, accountability and responsibility is in dire need of being addressed.

By: Ugo Nardi

Ugo Nardi — Wed, 28 Jan 2009 04:42:24 +0000

Before fixing the banks, the bankers should be “fixed.”
Bankers do not take risks; they only underwrite risks. Those, who take risks, are not bankers, and it follows that they should not be employed by banks.
Bankers use prudent judgment - they are not driven by greed.
Bankers should submit to tests of competency as doctors, lawyers, CPA’s do, and held to the highest standards of competence and integrity, and be held responsible for acts of incompetence and malpractice.
Bankers should submit annual personal financial statements to their supervisory authorities.

By: Immanuel Toledano

Immanuel Toledano — Tue, 27 Jan 2009 18:22:23 +0000

Bill Clinton signed the 1999 repeal of Glass-Steagall due to his dubious ties with America’s big banks. Therefore, he bears a huge responsibility in the current financial meltdown. He should be investigated for it. Of course, that will not happen.