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Ailing U.S. banks may require more aid to stay solvent: report

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posted on Feb, 13 2009 @ 01:49 AM
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www.reuters.com...


(Reuters) - Some large U.S. banks, may require more aid to stay solvent, the New York Times reported on Friday, citing economists and other finance experts.

A sober assessment of the growing mountain of losses would overwhelm the value of the banks' assets, the paper reported.

"The United States banking system is effectively insolvent," it quoted Nouriel Roubini, a professor of economics at the Stern School of Business at New York University, as saying.

He estimates that total losses on loans by U.S. financial firms and the fall in the market value of their assets will reach $3.6 trillion, up from his previous estimate of $2 trillion, according to the New York Times.

Adam Posen, a senior fellow at the Peterson Institute for International Economics, was quoted as saying that the government would have to play a more prominent role in sorting out the banking industry.

"Putting it off only brings more troubles and higher costs in the long run," he said. "At this moment, the liabilities they have far exceed their assets," he added. "They are insolvent."



Well, you knew it, I knew it and now here it is. US Banks are insolvent and they will be throwing even MORE money into it. Our country is in for one hell of a ride. If this persists the Federal Government will be insolvent too. China's decision to continue to buy our treasuries in this environment will prove catastrophic for them...

Hang on to your hats...If you didn't sell that off already too.

[edit on 13-2-2009 by projectvxn]

[edit on 13-2-2009 by projectvxn]

[edit on 13-2-2009 by projectvxn]




posted on Feb, 13 2009 @ 02:04 AM
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Wait until the commercial real estate market completely collapses, especially properties that need tenants.

There will be zero faith in the system and there is no amount of money that can be printed that will save it once confidence is lost.



posted on Feb, 13 2009 @ 02:19 AM
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I agree. This is going to be very bad. The coming commercial real estate collapse is going to be brutal. Millions will lose their jobs and the Government will just throw more money at it until we are Zimbabwe.



posted on Feb, 13 2009 @ 02:26 AM
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******* DO as governments and bankers DO *******

EVERYBODY PRINT MONEY !!!

We're going to have 5 million people printing money.
What can the f**king corrupt govts and banks do?
Nothing!

So let the party begin.
Everybody print money.
Collapse the corrupt money system.
Activate The Venus Project!



posted on Feb, 13 2009 @ 02:29 AM
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The commercial real estate is supposed to collapse when? 2010?

Anyway, there's info from the elite that the US dollar will have crashed within a year. Probably before christmas 09.

Also, you all probably red the article which stated that european banks needed a 24 trillions US$ bailout to stay in business?

24 trillions.... that's about half of the world GDP... which was 65 trillions for 2007.

Most banks in the western world are bankrupt. Those most affected will be those who rely on credit for everything... which means the US will be the most affected.

Edited world GDP number.

[edit on 13-2-2009 by Vitchilo]

[edit on 13-2-2009 by Vitchilo]



posted on Feb, 13 2009 @ 02:31 AM
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Actually that's about 10 or 15 percent of worlds GDP. But that is still an impossible number. And will destroy Europe.And we're well on our way to doing the same thing.

[edit on 13-2-2009 by projectvxn]



posted on Feb, 13 2009 @ 03:18 AM
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reply to post by projectvxn
 


The World REALLY can't Afford to put anymore into these Zombie Institutions...they need to Fail...the Sooner the Better...Watching CNBC right now and their London Reporter just said as much...
...I THINK some People are STARTING to FINALLY Realize this...

Angry America And The Bailout
www.cbsnews.com...

A MUST READ...some nice Cussing


Geez...Reporters...one from India Saying, "It's a Good Day in the Equity Markets Here...up ~2%..."...I REALLY don't think they get it.

The Lower (Smaller #'s) their Market Numbers go, the More it Distorts the Gains...2% Sounds good to them...2% of 100 is 2...2% of 10 is .2...Heck at this Point even a 10% Gain isn't all that much when Applied to their Current Low (Smaller) Numbers...


[edit on 2/13/2009 by Hx3_1963]



posted on Feb, 13 2009 @ 03:49 AM
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Originally posted by Hx3_1963
reply to post by projectvxn
 


The World REALLY can't Afford to put anymore into these Zombie Institutions...they need to Fail...the Sooner the Better...Watching CNBC right now and their London Reporter just said as much...
...I THINK some People are STARTING to FINALLY Realize this...

Angry America And The Bailout
www.cbsnews.com...

A MUST READ...some nice Cussing


[edit on 2/13/2009 by Hx3_1963]


Whoa great link!


Under the merciless glare of Congressional hearings, above all the Senate's Pecora Committee (named after its bulldog chief counsel Ferdinand Pecora), it was revealed that Jack Morgan and his partners in the House of Morgan hadn't paid income taxes for years; that "Sunshine" Charlie Mitchell, head of National City Bank (the country's largest), had been short-selling his own bank's stock and transferring assets into his wife's name to escape taxes; that other financiers just like him, who had been hero-worshiped for a decade or more as financial messiahs, had regularly engaged in insider-trading schemes that made them wealthy and fleeced legions of unknowing investors.


The only difference with the past and today is that politicians have joined on to the tax avoidance scheme.

If banks STILL need more bailouts, I hope society does get a wake up call and outright refuses to pay the taxes that fund such schemes.



posted on Feb, 13 2009 @ 04:06 AM
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I agree. Watching CNBC now. This is getting ugly.

Right now almost all markets are up. But this is just a false sense of optimism. Thing are going to get really bad in the markets over the next week or so. Especially as Geithner continues to distort the economy with his fascist policies.



posted on Feb, 13 2009 @ 04:06 AM
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Some Guy on CNBC just said that it might take 100% of the USA GDP in the Near Future to Tackle the Financial Crisis...Holy $#!+ !!!
That could be over $10T !!! I wish I Recorded that Part...


If I can find some good Clips I'll Post 'em...

[edit on 2/13/2009 by Hx3_1963]



posted on Feb, 13 2009 @ 04:17 PM
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reply to post by projectvxn
 


If anybody watched the hirings in congress when the question of the need for more money came out, the big CEOs didn't wanted to answer to that one.

In other words they will continue to leach the tax payer to keep their lavish life style, as we know already BofA is going to pay out its employees bonuses at the expenses of TARP.

So while they are leaching the tax payer they are still keeping their way of doing business as usual.

My question is for how long they will be leaching us.



[edit on 13-2-2009 by marg6043]



posted on Feb, 13 2009 @ 04:21 PM
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Until someone starts blowing up banks I guess. That's where I see this going. I'd rather NOT see anything like this happen in the US. I wish people both in high places and down low would just do the right thing. We may need a revolution, but I would like to see it happen without a single bullet being fired.



posted on Feb, 13 2009 @ 04:25 PM
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reply to post by projectvxn
 


That is exactly what I am afraid off, people will get so fed up that violence will be inevitable.

But then again you can only push the tax payer so much.



posted on Feb, 13 2009 @ 04:30 PM
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it just gets more and more dire every day doesn't it? and you're right, we all saw this coming....any economist with a smidge of integrity has been calling this for awhile now. down the tubes we go! i'm going to up my stockpiling of canned goods and just hope like hell i guess, hunker down with the fam.



posted on Feb, 13 2009 @ 09:16 PM
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reply to post by marg6043
 


Executive Pay Caps Disappear From Stimulus Bill
www.foxnews.com...

Isn't that Special? They stay up all nite rewriting parts of the bill, no one gets to read it, push it through at Light Speed and now these headlines appear...wait for more...I'm sure there's other stuff in there that we haven't had the time to Read About...


Edit: None of this Probley Matters...
The Bankruptcy of the United States
www.apfn.net...

[edit on 2/14/2009 by Hx3_1963]



posted on Feb, 16 2009 @ 02:20 AM
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Disclaimer: Stupid Idea Ahead



A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain. - Mark Twain

The world is divided into people who do things - and people who get the credit. - Dwight Morrow

Is there anyone I wouldn't take as a client? Well, I'd never represent a banker. - Gerry Spence

Banks have a new image. Now you have 'a friend,' your friendly banker. If the banks are so friendly, how come they chain down the pens? - Alan King

Because bankers measure their self-worth in money, and pay themselves a lot of it, they think they're fine fellows and don't need to explain themselves. - James Buchan

Bankers know that history is inflationary and that money is the last thing a wise man will hoard. - Will Durant

But if you want to continue to be slaves of the banks and pay the cost of your own slavery, then let bankers continue to create money and control credit. - Josiah Stamp

I went to the bank and proposed that they lend money to the poor people. The bankers almost fell over. - Muhammad Yunus

The history of the last century shows, as we shall see later, that the advice given to governments by bankers, like the advice they gave to industrialists, was consistently good for bankers, but was often disastrous for governments, businessmen, and the people generally. - Carroll Quigley

We will have a world government whether you like it or not. The only question is whether that government will be achieved by conquest or consent. - Paul Warburg

Get rid of the Bankers!

The Bankers' Manifesto of 1892
circleof13.blogspot.com...

People without homes will not quarrel with their leaders. History repeats itself in regular cycles. This truth is well known among our principal men who are engaged in forming an imperialism of the world. While they are doing this, the people must be kept in a state of political antagonism.

The question of tariff reform must be urged through the organization known as the Democratic Party, and the question of protection with the reciprocity must be forced to view through the Republican Party.

By thus dividing voters, we can get them to expend their energies in fighting over questions of no importance to us, except as teachers to the common herd. Thus, by discrete actions, we can secure all that has been so generously planned and successfully accomplished.

Sound Familiar?

Notice Who is standing behind TPOTUS these days?
In fact most of the higher up Politicians these days are involved somehow with Bankers/Wall St/Lobbists...



[edit on 2/16/2009 by Hx3_1963]



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