Elizabeth Barrette (ysabetwordsmith) wrote,
Elizabeth Barrette
ysabetwordsmith
  • Mood: busy

Thoughts on the Banking Crisis

Some time ago, I predicted that giving no-strings-attached money to the banks via assorted stimulus and bailout plans ... would not result in banks loaning money to people, as intended. A piece early in this article shows how the banks are holding onto that money or using it on the stock market. But then there are discussions of several other serious problems in banking today.
Tags: economics, news
Subscribe

  • Bingo

    I have made bingo down the B, G, and O columns of my 6-1-21 card for the Cottoncandy Bingo fest. I also have one extra fill. B1 (caretaking) --…

  • Poetry Fishbowl on Tuesday, July 6

    This is an advance announcement for the Tuesday, July 6, 2021 Poetry Fishbowl. This time the theme will be "Reality is stranger than fiction." I'll…

  • Poetry Fishbowl on Tuesday, July 6

    This is an advance announcement for the Tuesday, July 6, 2021 Poetry Fishbowl. This time the theme will be "Reality is stranger than…

  • Post a new comment

    Error

    switch
    default userpic

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.
    Help
  • 3 comments
fayanora

fayanora

August 18 2009, 06:19:28 UTC 11 years ago

Damn banks.
siliconshaman

siliconshaman

August 18 2009, 11:53:04 UTC 11 years ago

The basic problem in banking to day is the corporate culture of greed at any cost and management sociopaths.

and my prediction is that the Federal Government will be forced into taking over a significant proportion of the banking system in 2010-12...and bankrupt shortly thereafter. Followed by the others in the G8 not long after that...
ysabetwordsmith

Yes...

ysabetwordsmith

August 18 2009, 17:55:46 UTC 11 years ago

>>The basic problem in banking to day is the corporate culture of greed at any cost and management sociopaths.<<

I remember reading once that the technical psychological pattern of behavior for corporations is indeed sociopathic, as they pursue their own benefits without conscience. America is discovering that when people and companies are encouraged to consider only the bottom line, they do scandalous and vicious things in pursuit of that goal, which are deleterious to the healthy function of society.

>>and my prediction is that the Federal Government will be forced into taking over a significant proportion of the banking system in 2010-12...and bankrupt shortly thereafter.<<

I would not be surprised, but I really hope it doesn't come to that. I'd rather not have the government in charge of ALL the banks. I would rather have a diverse banking industry that is bounded by sensible regulations and behaves in a sane fashion.

I also wish that people would learn to think ahead and consider more than just their private short-term gain.