Too big to fail....

Posted in the Ellijay Forum

Terry Daniel

Ellijay, GA

#1 May 14, 2012
J.P. Morgan has fought increased regulation of the big banks. Today they admit to at least a 3 billion dollar loss from hidden risks in its derivatives group. Too much regulation is not a good thing but too little regulation is even worse. Where do we draw the line? When these big banks are about to fail the taxpayers have to bail them out. If local banks can fail then why can't big banks fail?
Hmm

Ellijay, GA

#2 May 14, 2012
They have.
Reality

Ellijay, GA

#3 May 14, 2012
Believe nothing.

Lehman, AIG, UBS, MF Global, and now JPM, all claimed huge, inexplicable, trading losses.
There are no trading "losses".
Insiders are looting the banks' assets before the crash and then claiming that the money was "lost".

The boss steals the company cash, and then blames the stock boy.

The ENTIRE financial system is corrupt.
Left to right.
Top to Bottom.
Inside and Out.
Terry Daniel

Ellijay, GA

#4 May 14, 2012
Reality wrote:
Believe nothing.
Lehman, AIG, UBS, MF Global, and now JPM, all claimed huge, inexplicable, trading losses.
There are no trading "losses".
Insiders are looting the banks' assets before the crash and then claiming that the money was "lost".
The boss steals the company cash, and then blames the stock boy.
The ENTIRE financial system is corrupt.
Left to right.
Top to Bottom.
Inside and Out.
yep, we've bought this deregulation crap long enough. When the cat is away the mice play. Without overdoing it we need to regulate these huge industries and banks so that they don't bring our entire economy down when they get greedy and over-extend themselves.
Reality

Ellijay, GA

#5 May 14, 2012
Terry Daniel wrote:
yep, we've bought this deregulation crap long enough. When the cat is away the mice play. Without overdoing it we need to regulate these huge industries and banks so that they don't bring our entire economy down when they get greedy and over-extend themselves.
The mice aren't playing.
They've burned down the house, with us inside.
And the cat was their accomplice.
Lost in the Sixties

Ellijay, GA

#6 May 14, 2012
Folks, you had better be keeping your eye on the financial collapse that is forming in Europe.If these countries fail it will stagger our economy and our banking system too.This is a HUGE danger to all of us.The sad thing is the our "Prez" wants to re-model our great country into one of the socialist countries that are now going down the tube over there.
Ham bone

Ellijay, GA

#7 May 14, 2012
Lost in the Sixties wrote:
Folks, you had better be keeping your eye on the financial collapse that is forming in Europe.If these countries fail it will stagger our economy and our banking system too.This is a HUGE danger to all of us.The sad thing is the our "Prez" wants to re-model our great country into one of the socialist countries that are now going down the tube over there.
You are correct that we should watch what is going on in Europe. However, I would not worry about the Prez taking us down the road to socialism because, as we have seen, he cannot do anything by himself. Worry about what congress is doing or, better yet, throw the rascals out. Let's get some new blood in there and get rid of the lifers.
ponyboy

Piedmont, SC

#8 May 18, 2012
Reality wrote:
Believe nothing.
There are no trading "losses".
Actually, there are, as far as financial statements are concerned. "Debt and equity securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and reported at fair value, with unrealized gains and losses included in earnings"(FASB, FAS 115). The idea is that companies who are in the business of buying stocks at a bargain and selling for a profit should include unrealized holding gains and losses in net income because this is a measure of their performance. If they are gambling on stocks and they identify this as part of their normal business, then the unrealized holding gains and losses are a measure of their performance, and therefore included in net income, rather than other comprehensive income.
ponyboy

Piedmont, SC

#9 May 18, 2012
As far as "too big to fail" goes, you've got me there. I always thought that failure was the natural selection, if you will, of a free market economy. Then again, how free is it? That is the question: who is right? Those that think the market is over-regulated, or those that think it is under-regulated? And does GAAP really ensure that the information we receive from these corporations is accurate, or have we bended too much to IFRS for the sake of uniformity?
East Town

Dawsonville, GA

#10 May 18, 2012
Folks, Reagan did all the "get govt outta your life" crap, He deregulated things that shouldnt have been, The free reign banks enjoy today and the gas prices not frozen and allowed to shoot up like they have are a product of deregulation. And its not East Towns opinion, Its in the history books. The to big to fail has meaning to it, It simply means total economic collapse, Which means our money is useless.
ponyboy

Piedmont, SC

#11 May 18, 2012
Yes, our money is useless, because it is no longer redeemable for any physical asset. Just look at the inflation rate since our currency was removed from the gold standard. Then add in the Federal Reserve artificially suppressing interest rates. A nominal interest rate includes the real interest rate plus the inflation rate. Of course, the Bureau of Labor Statistics understates the real rate of inflation. It is a humorous moment when logical economics, accounting, and political science bend to the existential philosophy. Who can know the ends to all this? And what purpose does it serve?
East Town

Dawsonville, GA

#12 May 19, 2012
A certain group is of course making mucho money, These type of folks cant see they are destroying the country, And if it dosent turn around these mega rich folks money will be as useless as ours, Thats the only reason I know its happening, Much like the building/real estate boom, Some high rollers just thought it would last forever.

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