Bail-in Detroit, if it is good for the banks why not Detroit?

Where is Detroit’s bail-in?

The new banking scheme which calls for bail-ins not bailouts of the bankers when they get into in financial trouble again should be used as a tool to re-capitalize Detroit. Shouldn’t the city seize the moneys of all businesses doing business within the city? This would be consistent with the plan to rape the American people and depositors when the “private corporations” get into financial trouble. Why should the companies which operate in the city not pay for the failure of the city? After all they are “people” and to treat people differently would be discriminatory?
While I really do not believe in such a bail-in or a bail-in for the banks I thought this would put it in perspective of what the banks are going to do. Do people think Greece was an isolated incidence?

Should Detroit go bankrupt all of the corporations should be subject to a mandatory bail-in…….. fair is fair!

Dont give them any ideas, its not like they need more funds to mismanage.
Hell maybe now they can clean up eight mile.

reply to post by fnpmitchreturns


Is it fair that people keep getting screwed over with these bail outs? Do two wrongs make a right?

I wasn't for the industry bail-outs and I'm not for Detriot either. They voted for this mess of their own making. Let them stew in it.

There are plenty of ways to fix this, but they are all hard and painful. The problem is that people don't want to do what is right...precisely because it will be hard and painful.

reply to post by fnpmitchreturns


GM received $49.5 billion
Chrysler Group received $10.5 billion
Ford Refused the money and they are O.K. today with steady gains.

By the way Detroit did try to borrow the money from the banks. But, the banks are more broke than Detroit is.

To me, the difference is this:

Businesses can make money. There is a chance of payback with manufacturers and banks being bailed out.

Cities are government entities. They don't make money.... they are in effect bailed out constantly by taxpayers.... that's how they survive.

In the case of Detroit, the people that actually pay taxes decided to leave the city. So now we are supposed to bail them out, when the Detroit taxpayers have been 'bailing out' in droves in the past few decades?

If we make corporations pay to make Detroit solvent..... who pays in the end?
The corporations would pass that cost along to the consumers.

Originally posted by ShadellacZumbrum
By the way Detroit did try to borrow the money from the banks. But, the banks are more broke than Detroit is.

Banks pretty much create money out of thin air so I doubt they are broke.
Although, they might not want to invest in Detroit which is understandable.

reply to post by fnpmitchreturns


Can you explain what a bail-in is? I've never heard of it before.



Sounds like another phrase that the government made up. Like "man caused disaster".

reply to post by theMediator


The banks are Flat Broke. They do not have the ability to just create money.

AND. ..

If that is the case then why did WE bail out the banks if they can just create money.

Originally posted by TDawgRex
reply to post by fnpmitchreturns

 

Can you explain what a bail-in is? I've never heard of it before.

Sounds like another phrase that the government made up. Like "man caused disaster".

The term "bail-in" came after the EU and Greek governments bailed out the banks by stealing the depositors money. In case you did not know that here in the USA the banks can now legally take the money out of your bank account, savings, checking and other accounts and KEEP the money if they become financially insolvent and need a bail out....

In Canada the government actually wrote this into the government budget......

there are many thread on ATS about it.....

Originally posted by ShadellacZumbrum
reply to post by theMediator

 

The banks are Flat Broke. They do not have the ability to just create money.

AND. ..

If that is the case then why did WE bail out the banks if they can just create money.

if banks are broke why did many just have record profits? your rhetoric does not compute.....

reply to post by fnpmitchreturns


I've seen the threads, but the term Bail-in didn't register. I saw that the EU had done this but I didn't know about Canada doing that as well.

I'm leaning more and more towards buying a RV everyday.

reply to post by fnpmitchreturns


It's not rhetoric it is Fact.

Detroit did approach the banks in March? I think it was, and they were told that they didn't have the money.

In addition I might respond that you suggesting the banks can create money is shear rhetoric.

Originally posted by ShadellacZumbrum
reply to post by fnpmitchreturns

 

It's not rhetoric it is Fact.

Detroit did approach the banks in March? I think it was, and they were told that they didn't have the money.

In addition I might respond that you suggesting the banks can create money is shear rhetoric.

edit on 22-7-2013 by ShadellacZumbrum because: (no reason given)

Point of fact ... The US budget deficit has not grown in recent months yet a "private bank" called the Federal Reserve creates $85 billion a month which the tax payers back ........ yet the budget does not increase ....

and

of course you know what "fractional reserve banking " is? because that is exactly what the banks do ...... they create digitized money through fractional reserve banking ..... on top of the money authorized by the Treasury