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EU Commission proposes centralized bank rules

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posted on Jun, 6 2012 @ 06:24 PM
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EU Commission proposes centralized bank rules


www.businessweek.com

Under the European Commission proposal, banks that posed no systemic risk to the national or international economy would simply be allowed to fail. But those whose failure would pose too grave a threat to the stability of financial markets would be propped up in part by having unsecured creditors of the bank, such as bondholders and shareholders, take losses rather than having taxpayers give the institution rescue money.

"We don't want taxpayers to have to pay," said Michel Barnier, the European commissioner responsible for the internal market, as he outlined the proposals in Brussels on
(visit the link for the full news article)




posted on Jun, 6 2012 @ 06:24 PM
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On the surface of it this looks like a good idea - Iceland let the banks fail & came out if the crisis moderately well - albeit failure of its banks was never going to cause anything to collapse!

It is also apparently NOT about setting up a central regulatory agency -


Barnier was at pains to emphasize that he had been working on the proposal for years, and they were not a response to the banking crisis in Spain or other recent bank bailouts.

While Barnier said the centralized rules are necessary because so many banks operate across borders, he did not propose setting up a powerful central banking authority. Instead, his proposal would strengthen the ability of national authorities to -- hopefully -- head off bank failures before they happen and to deal with them decisively when they do.


but I can't help feeling there has to be a catch......

www.businessweek.com
(visit the link for the full news article)



posted on Jun, 6 2012 @ 07:12 PM
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On the face of it certainly does sound good.

I can't imagine the banks accepting anything that is fair. The system props up all the wrong people.



posted on Jun, 6 2012 @ 08:03 PM
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reply to post by Aloysius the Gaul
 

so the great e.u .commission has come up with this great brilliant SCHEME that is supposed to help save the nations of the e.u. funny thing is that they the great banks of this world are the ones solely responsible for this the mess that the worlds economies are in .as it was their mindless lending SCHEMES that they can lend out money that does nor exist and they expect to be paid back plus interest on monopoly money.
COMPOUNDING INTEREST AND LENDING TO ALL GOVERNMENTS HAS GOT TO STOP AS THEY ARE THE WORST RISK IN THE WORLD FOR EITHER INVESTMENTS OR PAYING BACK.THEIR LOANS. they seem to think that as long as the interest is paid monthly they are paying the bills wrong! this is the same way that all big businesses run no wonder 2 of the big 3 should have failed if not for the lowly tax payer BAILING them out once again as this is not the first time they have driven their companies into the ground and blamed the workers for their ineptness and gross mismanagement of these companies.
now the great e.u. banking community are talking about selling bonds stocks and funds on losing banks and government ineptness once again ,to bad none of these falsities
of theirs are worth the paper their are written on it is just another form of theft to cover their thieving lying ways.
the worlds banks have been stealing off of the people and the governments for centuries with this corrupt system of theirs which is falling all around them and they won`t fix it nor will the governments . the reason being that all governmental officials world wide are nothing more than BANKERS & BIG BUSINESSMEN who blame everyone except their own selves for this their mess.
the simple solution to this mess is COMPOUNDING INTEREST HAS GOT TO BE OUTLAWED.and all loans need to be rewritten at a FLAT RATE of 3%.
i`ll bet you 10 to 1 that the worlds banks would scream FOUL over this but it would fix the system,considering that all of their projected profit for the coming year is nothing more than imaginary as there is no profit until it is in the bank and not before.
all forms of theft by all groups being -bonds ,certificates stocks and all other forms of profiteering like this should be OUTLAWED as there is nothing backing these things other than someones word which is not what listening too.
PROFITEERING-meaning all of these huge investment houses that are paying you 1% on your hard earned cash that you invested with them for the future all the while they are is it RAKING or RAPING you for the billions that their companies are making so where is the peoples fair share of their investments ,why of couse it is in the hands of the rich or thieving banks . yet if the economy goes for a # like it just did their made billions and you the people lost billions to them .
SO WHY IN HELL ARE YOU ALL GIVING YOUR CASH TO THEM FOR FREE.



posted on Jun, 6 2012 @ 08:18 PM
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reply to post by picratus
 


Dunno about yuou but I owe my bank a lot more than they owe me - so they are giving me all their cash!

and my parents get compunding interest from them on their deposits, so I'm not sure why you think that is bad.

And lastly don't lend to governments...well...OK......so are you going to give back the Hoover Dam, Freeways, Space shuttle, WW2, Ronny Raygun, etc??


The Congressional Budget Office (CBO) projected in 2001 that the federal government would erase its debt in 2006 and be $2.3 trillion in the black by 2011. The difference between projected and actual debt can be largely attributed to:
$3.6 Trillion – Economic changes (including lower than expected tax revenues due to recession)
$3.0 Trillion – Bush Tax Cuts
$1.4 Trillion – War in Afghanistan and Iraq
$1.4 Trillion – Stimulus spending in response to the 2008 Financial Crisis
- NY Times
edit on 6-6-2012 by Aloysius the Gaul because: (no reason given)



posted on Jun, 6 2012 @ 09:41 PM
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This does come across as a more reasonable approach to the management of risk. For those that choose to enter the stock market, the presence of risk is part of the reward for their investment. For the average consumer, stable banking is their need as fees support these services. It is a very tough job in such a highly charged, political and influencial environment and good to see some common sense shining through.
edit on 6-6-2012 by kwakakev because: spelling 'charged'



posted on Jun, 7 2012 @ 03:55 PM
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reply to post by Aloysius the Gaul
 

i`m not like you i owe nothing to any bank or business or anyone for that matter as i work long and hard and as my parents taught me many years ago save it don`t spend it if you want something in life pay for it in cash ,if you can`t pay for it you can`t afford it .i learned this lesson well .and i do pay cash for everything even my home and vehicles which are new. not bragging simple truth.

as to their compounding rate of interest it is a joke they pay us a few pennies on the dollar and the government takes a portion of it back ,yea great system if you like living paycheck to paycheck .

i meant that the governments should not be allowed to borrow until they learn how to pay off these massive debts that they have accumulated in we the taxpayers name world wide ,even the great u.s. has said that they can just barely afford to pay the interest on these loans and this madness is occurring at every level of government .to bad your government is no better at it that any other government as you are only being told what the Washington government owes ,what about the accumulating debt of the cities ,townships and every other level of regional government--it is not 14 trillion that you owe it is probably in the 100`s of trillions .governments lie plain and simple and any time they come up with some new ay to help you run .

here is an example of what they pulled up here in the great white north Canada
.
registered retirement savings plans -to save for your retirement.
start one with your [after tax dollars that you paid your taxes on already] sounds good
and we will pay you interest on it tax free until you need it -and it is not much .--great
heres the catch anytime you withdraw it for your retirement you pay a rate of 50% tax on it.
at age seventy it goes into another form of their do not use it or touch it account.-50% tax rate
funny thing about this grand scheme of theirs is that all of that after tax money that you originally put in is also taxed at a rate of 50% as you withdraw it so our government made 30% income tax off of you at the start before you even got your pay check and then they grabbed ANOTHER 50% OF YOU AFTER TAX DOLLARS . OH WHAT A SCAM AND THIEVERY.
and all of this inflated rate of taxation is taken off right then and there at the bank by the bank one of our great tax collectors .oh and they even limit what you can take out a year .i`ve watched my parents take out 2500,00 a year ans seen them take back 1250,00 right there ,they had 80,000.00 saved of their own cash they are now down to 30,000.00.so i guess they worked for nothing as the man seems to think that all of your things belong to him and we are lucky if we can afford to put food and cloths on our selves . have you ever seen a thin politician as they all seem to be overfed like pigs at the trough.

and to top that off if you are single when you die they take 50% of everything that you own and with no dependents they get it all .



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