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Major Banks Say They Are Ready To Go Under.

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posted on Jul, 6 2012 @ 06:45 AM
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Originally posted by SouthernForkway26

Major Banks Say They Are Ready To Go Under


Banks are required to give the government the tools to wind them down in a case of failure under provisions of the Dodd-Frank financial reform law designed to end the practice of bailing out “too big to fail” banks by the state. The act aims to secure the financial system from turmoil such as followed the collapse of Lehman Brothers or Bear Stearns in 2008.


Part of the new regulations. Theyre trying to say that they have a plan, and if something crazy happens and a big bank fails there's nothing to worry about. They have a plan for that. I doubt that they would be able to sell their assets to the willing buyers like they say they can. If one goes down, you can bet that the market is gonna be worried about the rest of them. Prices for these assets are likely to plummet before they are all sold, creating a snowball effect. It's all just more smoke and mirrors to try to keep faith that the market is stable and prepared.


Absolutely agree. This is nothing more than gov requiring banks to have an "emergency plan", but all of those banks have simply made an obvious plan that wouldn't actually work.

The banks are placating regulators and gov with a scrap book of ramblings, so the regulators and gov can placate the public and say they have a plan.

The truth of the matter is that none of those plans can ever actually be used, because the vast majority of their plans would be pointless. Who is going to buy parts of a failed bank in a crashing market when bankers and traders are jumping from the roofs?

These plans do not take into account the size of the disaster should any of those banks collapse. They're written as though they're a small shop on the corner dealing with a flood. These banks have the capacity to crash the entire monetary system all over the world, and their contingency plans would be worthless in the face of that.

It doesn't mean a collapse is on the way either. We've seen several instances where the banking collapse should have happened already, and governments keep coming up with dastardly plans to give them more of your money. I expect this to continue to happen until the people say enough is enough.

Our governments are already in so much debt it almost doesn't matter if they continue to pump money into the pockets of the bankers forever. I'll bet most governments are having meetings quite regularly and saying to each other how they're shocked that the people are allowing it to continue. They must be stunned that the public has just bent over and taken it the way we have without a fight.




posted on Jul, 6 2012 @ 08:13 AM
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off-topic post removed to prevent thread-drift


 



posted on Jul, 6 2012 @ 08:14 AM
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There were some interesting comments during the debate the other day in the UK parliament, mostly from the labour/"opposition" side. One MP went as far as using the word "treason" however in relation to your OP, I think another MP nailed it, he basically even said if we do find them all guilty of wrong doing, compensation would then destory the banking system anyway.

Its a clever scam they have going isnt it, they steal and keep themselves protected from prosecution. However even if that is taken away, they still cant be touched as it opens the doors to litigation which will destory everything anyway.

Our only option may be starting over. A big crash is coming. I take it you saw Bankia in Spain are now being brought up on fraud? Anoter UK MP also said he has been aware of financial fraud, eg traders shaving points of their customers funds, since the early 90s and the regulators just repeatedly deny it is possible, he said it was happening in the US and it is happening here in the UK, then we have derivatives...

I hope labour follow through with providing some protections for whistleblowers as suggested, I hope the public demand a public inquiry instead of this whitewash. I really cant believe transactions are not timestamped yet, this "reform" will be a case of adding check points so it CAN be audited in future. Too little too late in my view, de regulation killed most of the worlds economies in less than 30 years.

EDIT

Ahh yes it was Clive Efford who said the T word


I have given way twice and I will not give way any more because of lack of time.

Fundamental change in this House would be required of the type that simply has not taken place. It is such fundamental reform that we need, rather than the messing about that we have with the House of Lords, which will go absolutely nowhere.

The inquiry that the Opposition are calling for today could establish what we need to do in order to legislate to clean up the setting of the LIBOR rate. That could be dealt with and expedited, but when it comes to the underlying issues and the people involved, we are talking about criminal activity. Let us remember that, at a time when taxpayers’ money was being poured into the banking system to prop it up, these people were acting in their own personal interest and to profit Barclays and other banks, and against the interests of the country. In fact, it could even be called treason. These people belong behind bars, and the inquiry that needs to take place here—[ Interruption. ] Millionaires’ row over there are giggling at that, but I can tell them that the public out there do not think it is funny. We need to have a proper investigation, independent of this House, that will satisfy the public.



www.publications.parliament.uk...
edit on 6-7-2012 by trustnothing because: (no reason given)



posted on Jul, 6 2012 @ 08:53 AM
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Great news for Canadian banks. The fire sales that are coming will make them even stronger!



posted on Jul, 6 2012 @ 08:56 AM
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The emergence plan was put in a bill back in 2010, i think, and the deadline was this month for the majority of the banks to submit there “brake up” plan if anything was to happen.
edit on 6-7-2012 by camaro68ss because: (no reason given)



posted on Jul, 6 2012 @ 09:11 AM
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Looks to me like their countermove to more and more people becoming aware of what's been going on.

Imagine how much our influence on people who are still asleep would reduce, if everything collapsed and TPTB came out with their plans for a global bank, most people know banks are in trouble etc... but they will also see this new big bank as a solution to the problem I'm afraid...

You know, most people I talk to here in Europe see Europe as a fantastic thing, they only see the good side of the medal that was promised to them (hey, you no longer have to exchange currency to travel so don't complain about the problems!!), they don't see it as losing their sovereignty, the little bit of democracy that is left, increased government, etc...

I think deep down they know these things, but when you know all this, and you have to face it everyday, it can destroy every bit of happiness left inside of you, if you let it...

It's called blissfully ignorant for a reason, I wish I was too sometimes, I think it sure beats having to face this global lie every damn day knowing there is nothing you can do except for yourself, basically harming yourself as we all still live in an environment that doesn't think like us.
edit on 6/7/12 by ThisIsNotReality because: (no reason given)



posted on Jul, 6 2012 @ 09:18 AM
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Originally posted by palg1
Great news for Canadian banks. The fire sales that are coming will make them even stronger!


I wasn't aware Candian banks were in such a strong position, thanks for bringing that to my attention, I found this, UK/US were not even in the top 20 but Spain just made it LOL Its from 2008 during the crash so well outdated, at the time Canada scored top in that measurement
From old report


1. Canada
2. Sweden
3. Luxembourg
4. Australia
5. Denmark
6. Netherlands
7. Belgium
8. New Zealand
9. Ireland
10. Malta
11. Hong Kong
12. Finland
13. Singapore
14. Norway
15. South Africa
16. Switzerland
17. Namibia
18. Chile
19. France
20. Spain


www.reuters.com...

The current report. I am not 100% sure what part would form the equivelent of the table above as Reuters do not specifically say, I think it is the soundness of banks one from here ?


1 Canada ...................................... 6.8
2 South Africa .............................. 6.6
3 Panama ..................................... 6.5
4 Australia .................................... 6.5
5 Singapore.................................. 6.5
6 Chile .......................................... 6.5
7 New Zealand............................. 6.5
8 Finland....................................... 6.5
9 Lebanon .................................... 6.4
10 Hong Kong SAR........................ 6.4
11 Barbados................................... 6.4
12 Malta......................................... 6.4
13 Norway...................................... 6.3
14 Israel ......................................... 6.3
15 Peru........................................... 6.2
16 Brazil ......................................... 6.2
17 Sweden..................................... 6.2
18 Bahrain...................................... 6.1
19 Mauritius................................... 6.1
20 Saudi Arabia .............................. 6.0
21 Namibia..................................... 6.0


www3.weforum.org... on page 485

www.weforum.org...

On this scale 1 is "insolvent, may require a bailout" Ireland is bottom on this table at 142, Iceland at 140. Somehow I dont think Iceland will be taking a bailout any time soon...
edit on 6-7-2012 by trustnothing because: (no reason given)



posted on Jul, 6 2012 @ 10:19 AM
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The banks are required by law to have these break-up plans. That's all they're doing, i don't see this as an admission of imminent collapse by the banks. Your reading to much into the article if that's what your getting.



posted on Jul, 6 2012 @ 10:29 AM
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Looks like the banks are planning to sell a lot of their real assets and keep the crap. This will give them money to bail themselves out but at the same time make their banks less secure. The banks seem to be getting ready to destroy themselves along with our economy. The bank officials will then go work for the companies they sold the good assets. Big scam erupting. I wonder how reliable the source? Our government may be thinking of stopping this or our economy could collapse completely. I'm no Economist, I can only guess what this means.



posted on Jul, 6 2012 @ 11:22 AM
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The title of this thread is grossly misleading.

The Federal Government, FDIC, Federal Reserve, etc. requested that the big banks create written business plans that could or would be utilized in the event that these same banks had to unwind their operations, either due to bank failure, a pending economic crisis, or the government requiring a break-up of these banks into smaller banks.

These plans are "What If" scenarios, back-up plans, and emergency plans, and are pure fiction at this point.

Banks are NOT stating that they are going under. In fact, the banks are flush with record deposits, and are making healthy profits right now. The big banks have been aggressively right-sizing their Balance Sheets and shedding weak assets to shore up their cash position. They have sold divisions that were not profitable, or didn't match their strategic objectives, and reduced their labor force through retirement, attrition, and some layoffs. From a purely business perspective, the banks are taking all of the right steps to strengthen their financial position.

In fact, the banks are much, much healthier than they were before the financial crisis in 2008.

Frankly, the "doom and gloom" Occupy crowd that has a myopic, narrow, one-sided opinion of the banking industry loves to spread rumors and smear the industry as a whole. It's tiresome, and the arguments made are far from convincing.

Banking is a necessary function for society. Banks provide capital to entrepreneurs, allowing their companies to grow and expand, hire workers, acquire competitors, and build a successful company. Without banks, business would grind to a halt.

So, be careful in bashing the banks. Most of the bankers that I have met are normal, everyday working people with families to support, and very few make much more than a modest income. Most tellers earn less than $20,000 a year, and branch managers earn around $45-50,000/year - Hardly a fortune.

It's important that we don't smear a whole industry of working class people because of a grossly overstated and overzealous political agenda.



posted on Jul, 6 2012 @ 11:30 AM
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reply to post by CookieMonster09
 




The title of this thread is grossly misleading.


Follow the source link. The title is exactly as it was printed and that is all. No enhancements or changes. Or maybe I should have changed it as I see fit? Then that would be the issue.

Peace



posted on Jul, 6 2012 @ 11:45 AM
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Originally posted by lokdog
The banks are required by law to have these break-up plans. That's all they're doing, i don't see this as an admission of imminent collapse by the banks. Your reading to much into the article if that's what your getting.


Required by law to have a break up plan? Why would anyone think that banks need a break up plan all of a sudden?

Reading too much into an article is one thing but you also have to read between those lines and ask what they are really saying.

Are they telling the truth? Maybe. Lies? Maybe.

My bet? I don't trust it one bit.

Peace



posted on Jul, 6 2012 @ 11:56 AM
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Required by law to have a break up plan? Why would anyone think that banks need a break up plan all of a sudden?

It's grand-standing by the politicians, who are in the pocket of the banks, but trying to put on a good show for the public that they are "trying to do something to protect the little guy". Nothing will happen.

Given the current trends in bank mergers, we will have a single, stand alone World Bank and World Currency with a micro-chipped population just like David Icke predicted over a decade ago. These big banks are not going to be allowed to get broken down into smaller banks, and if they fail, they will merge into a larger, more robust World Bank.



posted on Jul, 6 2012 @ 12:29 PM
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reply to post by CookieMonster09
 


Most tellers earn less than $20,000 a year

They're getting raped and need to make a collective plan to go on strike demading a raise.
Banks aren't smart to pay their tellers so little. When banks are robbed and their employees get paid so little, it's not hard to discern that this is why some of them are inside jobs.


and branch managers earn around $45-50,000/year

You conveniently left out their yearly bonuses and stock options.

I also like the way you happened to "forget" to mention the bank CEOs and their income.


It worries me the way you sound so relaxed when mentioning the World Bank and chipping.
I guess you think you're above getting chipped.

Although you won't say what role you play in the banking industry, I'm guessing you're a financial consultant.
Am I right? How much do these regular, everyday people pay you to keep their funds safe and secure?



posted on Jul, 6 2012 @ 12:43 PM
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I think this thread's topic relates to the LIBOR investigations (?)



posted on Jul, 6 2012 @ 12:47 PM
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IF the nine top US banks were to fail it would be a global disaster since they would probably take the federal reserve system with them and all of your money would be worth toilet paper


Personally i think the banks are stronger than they were in 2008 BUT there are still issues with repossessed homes from the housing crash, the availability of loans for development which is also hurting the economy and the financial growth of the banks due to the poor economy.
edit on 6-7-2012 by CynicalWabbit because: (no reason given)



posted on Jul, 6 2012 @ 12:49 PM
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They're getting raped and need to make a collective plan to go on strike demading a raise.

No need. It's an entry-level job. If they are smart, and work hard, they will move up the food chain. It's a ladder to climb. Sure the bottom is abysmal, but what entry-level job isn't?

Many unions are the death knell of most companies because the work gets reduced to the lowest common denominator. And unions are the notoriously run by the Mob. No thanks.



You conveniently left out their yearly bonuses and stock options.


Branch managers don't get stock options. You are misinformed.

If they are lucky, they might qualify for a small year-end bonus, but in the recent economic climate, this is rare.



I also like the way you happened to "forget" to mention the bank CEOs and their income.

Yeah, well he's a lucky bloke. I mean, at some of these banks, you have 100,000 or more employees, and 1 guy at the top that makes a few million a year.

Usually, the CEO is not a fat cat. He earned his way first through education - Most of these CEO's have law degrees or MBA's from top-notch universities - Not an easy task. Then they spend 80-100 hours a week in the corporate treadmill, and if they are lucky, they get recognized and climb the ladder. They have no life - Their health suffers, and divorce rates and alcoholism is high.

Plus, they are under tremendous scrutiny if they do make it to the top. First, from the public, and secondly, from the Board of Directors who can fire them at will. It's a hot seat, and few human beings would want to be CEO. Let alone having to deal with the far left looney tune Occupy folks.



Am I right? How much do these regular, everyday people pay you to keep their funds safe and secure?


Oh, I don't know about that. I guess I would earn the same amount of money as you do working for George Soros and the Communist Party of America to bash the banks on public forums.

Do you get paid in rubles or EURO's? Just curious how that works.



posted on Jul, 6 2012 @ 01:32 PM
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What happened in 1900 is happening again in 2000. In 1900 small banks were cut dry of loans by the larger banks, causing failures. Oh noes, we need a central bank. Now its the same, the banks are crashing the economy to justify a further consolidation of power and control.



posted on Jul, 6 2012 @ 01:40 PM
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reply to post by trustnothing
 


canada has great banks because i'm sure they don't want to find out what will happen if they steal their funds.

i doubt canadians will occupy wallstreet, they'll most likely burn banks down and the cops will join in.



posted on Jul, 6 2012 @ 01:46 PM
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Originally posted by randomname
reply to post by trustnothing
 


canada has great banks because i'm sure they don't want to find out what will happen if they steal their funds.

i doubt canadians will occupy wallstreet, they'll most likely burn banks down and the cops will join in.


Canada has great banks because the government regulates the hell out of them.

Note that they still manage to take our money through outrageous user fees, but at least it's legal.









 
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