Comments on: Redefining the sacred in the banking rescue Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 By: Youri Carma Wed, 04 Mar 2009 05:59:51 +0000 Yep, we’re being duped again I mean the keep on repeating the same hollow phrases which we’ve heard from October 2008. Quote Obamam: “I am absolutely confident that…credits going flowing again…” but it won’t cause the whole Global Economy has been halted since the day the keep on repeating these kind of phrases over and over again.

At the same time the U.K. wants to set up a “Shadow Banking System?” to dupe us even more without oversight this time.

I think it’s time that the people start realizing that they have to use the same banking armor which has been used against us. People and Shareholders have to start their own Hedge fund to finally get a place in the Big Boys Game.

Unfortunately people are to stupid to understand this and rather go rioting in the streets with Molotov Cocktails. Same Ol head story, the rich get richer, the stupid get hurt by the rioting police.

By: Don Tue, 03 Mar 2009 12:53:11 +0000 I guess anything is worth a try including nationalization. Is it really all a shell game? We force some lenders to buy toxic assets from the banks. The lender has to borrow from a bank to buy those toxic assets. He can try to get the money by capitalizing the debt and selling it. This takes money out of the hands of consumers. Consumers then have to withdraw from their savings. Then a whole bunch of other banks holler about having toxic assets that cannot be liquidated. Mickey mouse should stick to Disney cartoons rather than trying to run the economy.

By: lgrtwo Mon, 02 Mar 2009 00:41:59 +0000 Are we better off with:
a. zombie banks protected/controlled by treasury, fed
b. ‘lehmanized’ banks that are simply let go into chaos
c. the slow ‘winding down’ approach used with AIG
d. have the gov’t take over the banking system as it has the student loan sector (my guess is commentator “anubis” might favor this approach)
e. none of of the above (caution: if you pick this, you MUST offer a suggestion of your own!)

By: Anubis Sun, 01 Mar 2009 02:48:55 +0000 You are correct Mr. Saft when you note people will often chose the sacred over material advantage. Perhaps our choosing to find some way to solve all of our crisis with capitalism as the vehicle for action is an example of this very same behavior.

Governments look for measures to encourage sustainable energy convservation and use through tax incentive and allocation of said resources. Or, when fossil fuels are expensive enough innovation and new technology will become an affordable alternative.

The unfortunate truth is that the contracting world economy is keeping fossil fuels so inexpensive as to stifle the implementation of sustainable alternatives. Furthermore, some would argue, raising taxes to fund sustainable energy implementation would hamper the economy’s recovery.

Similar arguments are being made to forestall health care, pension, education and infrastructure improvements. While convincing arguments have been made to support substantial investment in these areas, little progress has been because of a lack of market forces and political will to move us forward. I believe no such market forces will ever come to pass.

At some point we must recognize that “capitalism” is our most sacred of cows and the greatest obstacle to moving forward on issues that don’t present considerable opportunity for profit. Harry Truman saved this nation billions of dollars as the Senator responsible for seeing that contractors did not overcharge the U.S. government during World II. Simply put, the war was not entered into as profit seeking venture. As a nation we must find the same resolve if we are to succeed in our struggle to save our society, civilization and planet.

By: phoenix1 Sat, 28 Feb 2009 18:49:38 +0000 How about a novel approach to fiscal fitness: follow the laws and capital regulations for institutional soundness, and stop trying to spin gold out of straw. Go back to basics, and earn money from lending and interest.

All of these huge banks are bleeding money. None of them are actually making money, unless you count running the printing press as “making money”