reply to post by RadicalRebel
less regulation of the banks, not more legislation. No more bailouts, no more "to big to fail" bs, if they fail then that is the process of
the free market, and tying the "invisible hand" behind the governments back obviously hasnt helped.
This is what the FDIC plan is about, that trillium posted.
When this happens, it will not hit the month-to-month working people who are not in Wall Street. The plan, devised by the Bank of England and the
FDIC jointly, addresses specific solutions to how to dismantle the hugest banks when they fail - by a single point of entry top-tier intervention.
The aim is to keep the infrastructure going, so that critical services and daily systemic transactions can occur as usual,
BUT MEANWHILE - the senior managament of the failed entities will be immediately removed as well as boards of directors AND HELD ACCOUNTABLE,
assets/liabilities are at risk, along with their top shareholders - not us little guys. It shouldn't affect us at all, and even the
major banks that are being taken over for complete restructuring will still operate their subsidiaries as usual.
The strategy is supposed to have begun already, the first half of this year is the deadline for part one of the plan being set up - and the end of the
year for ACTION.
The main point of their strategy is that TAXPAYERS WILL NOT TAKE THE BURDEN. It is the the culpable management and the filthy rich who have used the
filthy system to get that way that will finally pay. There will be no tax-payer bailout at all - the shareholders and entities that house them will
take the fall.
It should actually make things better, and while I'm no economist (I've been trying to learn about it for 2 years now), I think people who keep
shouting that "the government is too big", and "keep the government out of it", are missing the entire point. It isn't about the GOVERNMENT
spending, or regulation. Too little regulation was what resulted in the insolvency of Wall Street. It's not REAL - it's unsecured digits and
mathematics that, in the end, mean NOTHING. Just paper. So, they want to get rid of the meaningless "fiat equity" by writing it down to actual
ASSETS that are liquid, thus getting rid of the "investment profit" which doesn't really exist.
You guys really should read the post trillium added on page 1 - this is being handled outside of the government, by the FDIC and the Bank of England,
JOINTLY, and the government had nothing to do with it except for the justice system holding responsible the culprits - really holding them
accountable, and stripping them of their wealth AND their jobs - and replacing them, while having "bridge banks" continue day-to-day operations
while the top level parent companies are gutted, autopsied, and then rebuilt.
It's okay, and it will BE OKAY - as long as you're not Jamie Dimon or a huge Wall Street player earning $3000.00/hour in a fake gambling casino with
numbers on your "screen" that really mean NOTHING.
Please, guys, stop with the partisan mudslinging. We are talking here about CRIMINAL RACKETEERING and shady bank dealings - NOT THE GOVERNMENT in
this situation, not Dems or Libs, not Fox vs MSNBC. We're talking about STOPPING THE CRIME by stopping the criminals and declaring that The Emperor
Has No Clothes once and for all.
I'm actually optimistic about it!